50th GST Council: GST Rate Cut On Uncooked, Unfried & Extruded Snack Palettes, Fish Soluble Paste, LD slag
Mariya Paliwala
12 July 2023 8:25 AM GMT
The 50th meeting of the Goods and Services Tax (GST) Council was held under the chairpersonship of Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman recommended bringing down rates from 18 per cent to 5 per cent on 4 items - Uncooked, unfried & extruded snack palettes, fish soluble paste, LD slag to be at par with blast furnace slag, and imitation zari thread.It has...
The 50th meeting of the Goods and Services Tax (GST) Council was held under the chairpersonship of Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman recommended bringing down rates from 18 per cent to 5 per cent on 4 items - Uncooked, unfried & extruded snack palettes, fish soluble paste, LD slag to be at par with blast furnace slag, and imitation zari thread.
It has been decided to reduce the rate on uncooked/unfried snack pellets, by whatever name called, to 5% and to regularise payment of GST on uncooked /unfried snack pellets during the past period on “as is basis”.
It has been decided to reduce the GST rate on fish soluble paste from 18% to 5% and to regularise payment of GST on fish soluble paste during the past period on “as is basis”.
It has been decided to reduce the GST rate on LD slag from 18% to 5% to encourage better utilisation of this product and for the protection of the environment.
It has been decided to reduce GST on imitation zari thread or yarn known by any name in trade parlance from 12% to 5% and to regularise payment of GST related to this matter during the past period on “as is basis”.
