- Covid Relief measures by extending and adding some more drugs under GST concessional rate till 31st December 2021.
- Changes in GST rates will be applicable from 1st October 2021 unless otherwise not specified.
- GST rate changes in order to correct inverted duty structure, in footwear and textiles sector, as was discussed in earlier GST Council Meeting and was deferred for an appropriate time, will be implemented with effect from 01.01.2022.
- In terms of the recent directions of the Hon’ble High Court of Kerala, the issue of whether specified petroleum products should be brought within the ambit of GST was placed for consideration before the Council. After due deliberation, the Council was of the view that it is not appropriate to do so at this stage.
- E Commerce Operators are being made liable to pay tax on following services provided through them
- transport of passengers, by any type of motor vehicles through it [w.e.f. 1st January, 2022]
- restaurant services provided through it with some exceptions [w.e.f. 1st January, 2022]
- All laboratory reagents and other goods falling under heading 3822 attract GST at the rate of 12%. HS Codes 3822 – Diagnostic or laboratory reagents on a backing and prepared diagnostic or laboratory reagents whether or not on a backing, other than those of heading 3002 or 3006 certified reference materials
- Ice cream parlor sells already manufactured ice- cream. Such supply of ice cream by parlors would attract GST at the rate of 18%.
- In the spirit of earlier Council decision that interest is to be charged only in respect of net cash liability, section 50 (3) of the CGST Act to be amended retrospectively, w.e.f. 01.07.2017, to provide that interest is to be paid by a taxpayer on “ineligible ITC availed and utilized” and not on “ineligible ITC availed”. It has also been decided that interest in such cases should be charged on ineligible ITC availed and utilized at 18% w.e.f. 01.07.2017.
- Unutilized balance in CGST and IGST cash ledger may be allowed to be transferred between distinct persons (entities having same PAN but registered in different states), without going through the refund procedure, subject to certain safeguards.
You can refer press release by clicking following link
https://pib.gov.in/PressReleseDetail.aspx?PRID=1755925
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Published on: September 17, 2021
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