GST Council decisions relating to changes in GST rates, exemptions in the 38th meeting held on 18th December, 2019 of the GST Council

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....ST Council decisions relating to changes in GST rates, exemptions in the 38th meeting held on 18th December, 2019 of the GST Council <br>GST<br>Dated:- 18-12-2019<br><BR>PRESS RELEASE (On Rate Changes) GST Council in the 38th meeting held on 18th December, 2019 at New Delhi took following decisions relating to changes in GST rates, exemptions, - * To exempt upfront amount payable for long....

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.... term lease of industrial/ financial infrastructure plots by an entity having 20% or more ownership of Central or State Government. Presently, the exemption is available to an entity having 50% or more ownership of Central or State Government. This change shall become effective from 1st January, 2020. * To levy a single rate of GST @ 28% on both State run and State authorized lottery. This chan....

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....ge shall become effective from 1st March, 2020. * The Council also considered the rate of GST rate on Woven and Non-Woven Bags and sacks of polyethylene or polypropylene strips or the like , whether or not laminated, of a kind used for packing of goods ( HS code 3923/6305) in view of the requests received post the changes recommended on such goods in last meeting and recommended to raise the GS....

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....T to a uniform rate of 18%(from 12%) on all such bags falling under HS 3923/6305 including Flexible Intermediate Bulk Containers (FIBC). This change shall become effective from 1st January, 2020. [This note presents the decision of the GST Council in simple language for easy understanding which would be given effect to through Gazette notifications/ circulars which shall have force of law.]<BR>....

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