Applicable GST rate on Priority Sector Lending Certificates (PSLCs), Renewable Energy Certificates (RECs) and other similar scrips –regarding

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..... Block, New Delhi Dated the 6th June, 2018 To The Principal Chief Commissioner/ Principal Directors General/Chief Commissioner/ Directors General/Principal Commissioner/ Commissioner of Central Excise and Central Tax (All) / Director General of Systems Madam / Sir, Subject: Applicable GST rate on Priority Sector Lending Certificates (PSLCs), Renewable Energy Certificates (RECs) .....

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..... ed 01.03.2018 (S.No.3) was issued clarifying that PSLCs are taxable as goods at a standard rate of 18 % under the residual entry S. No. 453 of Schedule III of notification No. 01/2017-Central Tax (Rate). 4. As a result, there is lack of clarity on the applicable rate of GST on various scrips/ certificates like RECs, PSLCs etc. 5. The matter has been re-examined. GST rate of 18 % under t .....

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..... dated 13.10.2017 }. 7. Accordingly, in modification of S.No. 3 of Circular No. 34/8/2018- GST dated 01.03.2018 , it is hereby clarified that Renewable Energy Certificates (RECs) and Priority Sector Lending Certificates (PSLCs) and other similar documents are classifiable under heading 4907 and attract 12% GST. The duty credit scrips, however, attract Nil GST under S.No. 122A of Notification .....

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