Quick Summary
The GST Council, in its recent meeting, introduced several changes and clarifications to the Goods and Services Tax (GST) regime. These modifications aim to streamline processes, reduce compliance burdens, and provide relief to various sectors. Changes in GST Tax Rates Goods Namkeens and Extrud
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The GST rate on extruded or expanded savoury food products, excluding unfried or uncooked snack pellets, has been reduced from 18% to 12%.
Yes, the GST rate on certain cancer drugs, including Trastuzumab Deruxtecan, Osimertinib, and Durvalumab, has been reduced from 12% to 5%.
A Reverse Charge Mechanism (RCM) has been introduced for the supply of metal scrap by unregistered persons to registered persons. Additionally, a TDS of 2% will apply to B2B supplies of metal scrap by registered persons.
Yes, approved flying training courses conducted by DGCA-approved Flying Training Organizations (FTOs) are now exempt from GST.
The GST Council has recommended introducing a Reverse Charge Mechanism (RCM) ledger, an Input Tax Credit Reclaim ledger, and an Invoice Management System (IMS).
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