{"id":4820,"date":"2022-08-15T12:21:46","date_gmt":"2022-08-15T12:21:46","guid":{"rendered":"https:\/\/www.caindelhiindia.com\/blog\/?p=4820"},"modified":"2022-08-15T14:06:14","modified_gmt":"2022-08-15T14:06:14","slug":"gst-council-meet-updates-tax-rates-revision-approved","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/gst-council-meet-updates-tax-rates-revision-approved\/","title":{"rendered":"GST Council Meet Updates- Tax Rates revision approved"},"content":{"rendered":"<h2><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4821\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-Council-Meet-Updates-Tax-Rates-revision-approved.jpg\" alt=\"GST Council Meet Updates- Tax Rates revision approved\" width=\"793\" height=\"594\" \/><\/h2>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d740e3c90d4\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d740e3c90d4\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-council-meet-updates-tax-rates-revision-approved\/#GST_Council_Meet_Updates-_Tax_Rates_revision_approved\" title=\"GST Council Meet Updates- Tax Rates revision approved\">GST Council Meet Updates- Tax Rates revision approved<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-council-meet-updates-tax-rates-revision-approved\/#What_are_changers_made_in_47th_47th_GST_Council_Meeting\" title=\"What are changers made in 47th 47th GST Council Meeting?\u00a0\">What are changers made in 47th 47th GST Council Meeting?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/gst-council-meet-updates-tax-rates-revision-approved\/#Details_of_above_GST_Tax_Rates_revision_approved_are_below\" title=\"Details of above GST Tax Rates revision approved\u00a0are below :\u00a0\">Details of above GST Tax Rates revision approved\u00a0are below :\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"GST_Council_Meet_Updates-_Tax_Rates_revision_approved\"><\/span><span style=\"color: #000080;\"><strong><a style=\"color: #000080;\" href=\"https:\/\/www.caindelhiindia.com\/blog\/cbec-issue-amendment-in-gst-rate-on-goods-wef-18th-july-2022\/\">GST Council Meet<\/a> Updates- Tax Rates revision approved<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_are_changers_made_in_47th_47th_GST_Council_Meeting\"><\/span><span style=\"color: #000080;\"><strong>What are changers made in 47th 47th GST Council Meeting?\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Tax Rates On Certain Goods And Services To Be Simplified By GST Council: FM. Following two 47th GST Council Meeting, the Finance Ministry said that the government would increase taxes on some goods and services from the current rate of 12 cents to 18 cents, effective as of July 18, 2022.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Details_of_above_GST_Tax_Rates_revision_approved_are_below\"><\/span><span style=\"color: #000080;\"><strong>Details of above GST <\/strong><\/span><span style=\"color: #000080;\"><strong>Tax Rates revision approved\u00a0<\/strong><\/span><span style=\"color: #000080;\"><strong>are below :\u00a0<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li>Withdrawal of exemption on services by department of posts except post cards, envelopes less than 10 gm<\/li>\n<li>Increase in GST on e-waste from 5% to 18%<\/li>\n<li>Withdrawal of exemption to services provided by RBI, Sebi, IRDAI, FSSAI<\/li>\n<li>Tax @ 18% on cheques, lose or in book form<\/li>\n<li>Hotel accommodation below Rs 1,000 be taxed at 12%<\/li>\n<li>Withdrawal on GST exemption on storage and warehousing of taxable goods like sugar, natural fiber<\/li>\n<li>Tax Increased on work contract services supplied to govt, local authorities to 18% to correct inversion<\/li>\n<li>Withdrawal of GST exemption to business class air travel for northeastern states<\/li>\n<li>Tax increased on milling machinery for cereals from 5% to 18%<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-4822\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-Rates.jpg\" alt=\"gst Rate\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-Rates.jpg 1200w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-Rates-300x158.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-Rates-1024x538.jpg 1024w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-Rates-768x403.jpg 768w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2022\/08\/GST-Rates-800x420.jpg 800w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<ul>\n<li>Withdrawal of exemptions on rail transport &amp; road, when such services are input for business<\/li>\n<li>Input tax credit Refund on account of inverted duty structure in edible oils, coal disallowed.<\/li>\n<li>GST Council approves to replace the term \u2018branded\u2019 with \u2018pre packaged and labelled\u2019 for retail sale to avoid disputes. (Branded cereals, food attract 5% GST currently)<\/li>\n<li>Exemption for cereals sold loose or unlabeled, food items continued.<\/li>\n<li>Tax increased LED lamps, power driven pumps, ink, knives, blades, dairy machinery from 12% to 18%<\/li>\n<li>Withdrawal of exemption on services by way of slaughtering of animals<\/li>\n<li>Tax increased on solar water heater, finished leather from 5% to 12%<\/li>\n<li>Withdrawal of exemption on services like fumigation of warehouses<\/li>\n<li>Tax increased on specified goods for petroleum from 5% to 12% on input goods to correct inversion<\/li>\n<\/ul>\n<p><strong style=\"color: #000080;\">Popular Articles :<\/strong><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"YfjDOSAIIB\"><p><a href=\"https:\/\/www.caindelhiindia.com\/blog\/re-availment-of-input-tax-credit-reversed\/\">Re-Availment Of Input Tax Credit Reversed<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Re-Availment Of Input Tax Credit Reversed&#8221; &#8212; India Financial Consultancy\" src=\"https:\/\/www.caindelhiindia.com\/blog\/re-availment-of-input-tax-credit-reversed\/embed\/#?secret=pXjH2ko9Jr#?secret=YfjDOSAIIB\" data-secret=\"YfjDOSAIIB\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<ul>\n<li><strong><span style=\"color: #000080;\"><span style=\"font-family: 'Bookman Old Style', 'serif';\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/archives\/guidance-and-understanding-tds-on-gst.pdf\">Complete Guidance on TDS applicable on Goods and Services<\/a><\/span><span style=\"font-family: 'Bookman Old Style', 'serif';\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/archives\/guidance-and-understanding-tds-on-gst.pdf\" data-cke-saved-href=\"https:\/\/carajput.com\/archives\/guidance-and-understanding-tds-on-gst.pdf\"><span style=\"font-family: 'Bookman Old Style', 'serif'; text-decoration: none;\">\u00a0Tax\u00a0<\/span><\/a><\/span><\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/analysis-of-provisions-of-issue-of-summon-under-gst\/\">Analysis of Provisions of issue of Summon Under GST<\/a><\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/tds-and-gst-on-google-or-facebook-ad-words-advertisements\/\">TDS &amp; GST on Google or FB Ad words advertisements<\/a><\/span><\/strong><\/li>\n<li><strong><span style=\"color: #000080;\"><a style=\"color: #000080;\" href=\"https:\/\/carajput.com\/blog\/what-is-the-process-of-applying-instant-free-pan-through-aadhaar-e-kyc-fm-launches\/\">What is the process of applying instant free pan through aadhaar e-kyc<\/a><\/span><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>GST Council Meet Updates- Tax Rates revision approved What are changers made in 47th 47th GST Council Meeting?\u00a0 Tax Rates On Certain Goods And Services To Be Simplified By GST Council: FM. Following two 47th GST Council Meeting, the Finance Ministry said that the government would increase taxes on some goods and services from the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[933],"tags":[918],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4820"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=4820"}],"version-history":[{"count":4,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4820\/revisions"}],"predecessor-version":[{"id":4827,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/4820\/revisions\/4827"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=4820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=4820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=4820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}