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20 January, 2018

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GST Rates Slashed from 18% to 5% on Scientific & Technical Instruments & Domestic LPG

GST Rates Slashed from 18% to 5% on Scientific & Technical Instruments & Domestic LPG

The 25th GST Council meeting was held at New Delhi on 18.01.2018.  The said meeting was chaired by Shri Arun Jetley, the Hon’ble Finance Minister.  The decisions relating to-
·         exemptions;
·         changes in GST rates;
·         ITC eligibility criteria;
·         Rationalization of rates;
were taken by the Council in the said meeting.  However the said decisions will be given effect to through Gazette Notifications/circulars which shall have the force of law.

From 18% to 5%

The GST Council recommended the reduction of GST rate from 18% to 5% to the following goods-
  • Tamarind Kernel Powder
  • Mehendi paste in cones
  • LPG supplied for supply to household domestic consumers by private LPG distributors
  • Scientific and technical instruments, apparatus, equipment, accessories, parts, components, spares, tools, mock ups and modules, raw material and consumables required for launch vehicles and satellites and payloads.
The GST Council recommended the reduction of IGST rate from 18% to 5% to the following goods-

  • Satellites and payloads and scientific and technical instruments, apparatus, equipment, accessories, parts, components, spares, tools, mock ups and modules, raw material and consumables required for launch vehicles and satellites and payloads.

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