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

..... dditional/Jt. Commissioner of State Taxes and Excise, (South Zone, North Zone, Central Zone), Shimla, Palampur, Mandi, H.P. 2. The Joint Commissioner of State Taxes and Excise, Flying Squad, (Central Zone, North Zone, South Zone), Una, Palampur, Parwanoo, H.P. 3. The Dy. Commissioner of State Taxes and Excise, Shimla, Solan, BBN Baddi, Sirmour, Bilaspur, Hamirpur, Mandi. Kullu, Chamba, Kangra, Rev .....

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..... other than Duty Credit Scrips], classifiable under heading 4907, attract 12% GST. 3. Further, Circular No. 34/8/2018- GST (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-State Tax (Rate). 4. As a result, there is lack of clarity on the applicable rate of GST on various scrips/ .....

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..... x (Rate) dated 30.06.2017, as amended vide Notification No. 35/2017-State Tax (Rate) dated 15.11.2017}. 7. Accordingly, in modification of S.No. 3 of Circular No. 34/8/2018- GST, 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 .....

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