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Latest GST Rate Revision as per the 31st GST council meeting

Businesses are opting for GST Registration in order to enjoy the benefits of GST as prescribed by the GST council. The GST Rates for Goods and Services has been revised as per the 31st GST council meeting which was held on 22nd December 2019.

The revision made with regards to the GST Rates has been enumerated as follows:

  1. The tax rate for those vegetables that are provisionally preserved but are unsuitable for immediate consumption is revised from 5% to Nil.

  2. Vegetables that are cooked or uncooked or steamed, frozen or boiled (branded) have a tax rate revision from 5% to Nil.

  3. The tax rate for Music Books has been revised to Nil which was charged at 12% earlier.

  4. A 5% tax rate is applicable on parts for manufacturing renewable energy devices which falls under chapter 84, 85 or 94 of tariff.

  5. Goods like natural cork, fly ash blocks and walking sticks of which the tax rate was 12% have been reduced to 5%.

  6. The tax rate for marble rubbles have been revised from 18% to 5% whereas the tax rate for goods like agglomerated cork, articles of natural cork and roughly squared or debugged cork have been revised from 18% to 12%.

  7. The tax rate on third party insurance premium on vehicle is revised from 18% to 12% whereas accessories for handicapped mobility vehicles it has been revised from 28% to 5%.

  8. The tax rates on Digital and Video Camera recorders, pulleys, transmission shafts, cranks and gear boxes under HSN 8483 and air travel of pilgrims have been reduced from 28% to 18%.

  9. The tax rate has been reduced from 18% to 12% on movie tickets with a price lesser than or equal to Rs 100.
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