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of <h1>GST Rates for Renewable Energy and Lending Certificates Set at 12% Under Heading 4907; Duty Credit Scrips Exempt.</h1> The circular clarifies the applicable GST rates for Renewable Energy Certificates (RECs), Priority Sector Lending Certificates (PSLCs), and similar scrips. It specifies that these certificates are classified under heading 4907 and are subject to a 12% GST rate. This classification and rate apply despite previous confusion, which categorized PSLCs under a residual entry with an 18% GST rate. Duty credit scrips, also under heading 4907, are exempt from GST. This clarification modifies an earlier circular and aims to resolve any uncertainties regarding the GST rates for these financial instruments.
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