GST Council approves several Fitment Committee proposals

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Categories: Important News

As per the recent tweet of CNBC-TV18, Sources say the GST Council has approved several proposals put forth by the Fitment Committee.

  • ‘Carbonated fruit beverages of fruit drink’ & ‘carbonated beverages with fruit juice’ to attract GST rate 28% plus compensation of 12%
  • Increasing GST rate from 5% to 18% on iron, manganese, copper, nickel, cobalt, aluminium, lead, zinc, tin, chromium -ores & concentrates
  • Levying 18% GST on paper sacks. Reduction in GST of fortified rice kernel from 18% to 5% for ICDS or similar scheme
  • Reduces GST on oncology medicine from 12% to 5%
  • GST rate on waste parings and scrap of polyurethane and other plastics may be increased to 18% from 5%
  • Recommends having single rate of 18% on all sorts of pens
  • Reduces GST on biodiesel supplied to OMCs for blending with diesel, from 12% to 5%
  • Henna Powder and leaves to be taxed at 5%. 12% GST rate on renewable equipment

Source from: https://twitter.com/CNBCTV18Live/status/1438823097126113284

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