TMI BlogGST Council decisions relating to changes in GST rates, exemptions in the 38th meeting held on 18th December, 2019 of the GST CouncilX X X X Extracts X X X X X X X X Extracts X X X X ..... GST Council decisions relating to changes in GST rates, exemptions in the 38th meeting held on 18th December, 2019 of the GST Council - Goods and Services Tax - GST Dated:- 18-12-2019 - News - PRESS RELEASE (On Rate Changes) GST Council in the 38 th meeting held on 18 th December, 2019 at New Delhi took following decisions relating to changes in GST ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tes, exemptions, - To exempt upfront amount payable for long term lease of industrial/ financial infrastructure plots by an entity having 20% or more ownership of Central or State Government. Presently, the exemption is available to an entity having 50% or more ownership of Central or State Government. This change shall become effective from 1 st January, 2020. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... To levy a single rate of GST @ 28% on both State run and State authorized lottery. This change shall become effective from 1 st March, 2020. The Council also considered the rate of GST rate on Woven and Non-Woven Bags and sacks of polyethylene or polypropylene strips or the like , whether or not laminated, of a kind used for packing of goods ( HS code 392 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3/6305) in view of the requests received post the changes recommended on such goods in last meeting and recommended to raise the GST to a uniform rate of 18%(from 12%) on all such bags falling under HS 3923/6305 including Flexible Intermediate Bulk Containers (FIBC). This change shall become effective from 1 st January, 2020. [This note presents the decision of the GST Council in s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... imple language for easy understanding which would be given effect to through Gazette notifications/ circulars which shall have force of law.] - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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