GST exemptions amended - expanded categories for government-related composite supplies and IFSC intermediary services take effect this year. The notification amends the State Tax (Rate) schedule to broaden GST exemptions by adding 'Government Entity' as a recipient, creating a nil-rated entry for composite supplies to government bodies linked to Panchayat and Municipality functions where goods are no more than 25% of value, extending a temporal concession from one year to three years, and introducing time-limited nil-rated entries for export transportation of goods by aircraft and vessel until the specified sunset date.
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GST exemptions amended - expanded categories for government-related composite supplies and IFSC intermediary services take effect this year.
The notification amends the State Tax (Rate) schedule to broaden GST exemptions by adding "Government Entity" as a recipient, creating a nil-rated entry for composite supplies to government bodies linked to Panchayat and Municipality functions where goods are no more than 25% of value, extending a temporal concession from one year to three years, and introducing time-limited nil-rated entries for export transportation of goods by aircraft and vessel until the specified sunset date.
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