GST Rates List March 2018 – Latest GST Rates in India March 2018 UPDATED -Hello Friends Welcome to Studydhaba.Com . Here We are sharing Latest GST rates in India List .

GST Rates List March 2018

26th GST Council Meet held on 10th March 2018

Key Decisions Taken in the 26th GST Council Meet:

GST Return Simplification:

  • Current GST Return filing system to continue for next 3 months

On the E-Way Bill Front :

  • Inter-state implementation of E-way bill to be implemented from 1st April 2018,
  • Intra-state implementation of EWB to kick-off from 15th April 2018 in a phased manner. States to be divided into 4 lots to execute this phased rollout

Reverse Charge Mechanism (in case of supplies made by unregistered persons to registered persons) delayed till 1st July 2018

TDS & TCS applicability postponed until 30th June 2018

Tax exemption for Exporters extended by  6 months till 1st October 2018 & the Council has advised the GSTN to expedite the export refund claims

No GST rate changes were announced.

GST Rates List March 2018 – Latest GST Rates in India March 2018 UPDATED

GST Rates List March 2018 - Latest GST Rates in India March 2018 UPDATED

Nil Rated Goods:

  1. Vibhuti
  2. Parts and accessories for the manufacture of hearing aids.
  3. De-oiled rice bran

Rates reduced from 28% to 18%

  1. Old and used motor vehicles [medium and large cars and SUVs] with a condition that No ITC is availed
  1. Public transport Buses that run on Biofuel

Rates reduced from 28% to 12%

For Old and used motor vehicles [other than medium and large cars and SUVs] with a condition that No ITC is availed

Rates reduced from 18% to 12%

  1. Sugar boiled Confectionery
  2. Drinking water packed in 20 litres bottles
  3. Biodiesel
  4. Drip irrigation system including laterals, sprinklers
  5. Mechanical Sprayer
  6. Certain listed Bio-pesticides (12 in nos)
  7. Fertilizer grade Phosphoric acid
  8. Bamboo wood building joinery

Rate reduced from 18% to 5%

  1. LPG supplied to  Household Domestic Consumers
  2. Raw materials and Consumables needed for Launch vehicles, Satellites and Payloads (Both CGST and IGST Rates)
  3. Tamarind Kernel Powder
  4. Mehendi paste in cones

Rates reduced from 12% to 5%

  1. Articles of straw, of esparto or of other plaiting materials
  2. Velvet fabric [with a condition that no refund is claimed on ITC]

Rates reduced from 3% to 0.25%

  • Diamonds and precious stones

GST Rate increased from 12% to 18%

  • Cigarette filter rods

Rate increased from 0% to 5%

  • Rice bran (other than de-oiled rice bran)

Compensation cess is reduced to 0% for following motor vehicles :

  1. Old and used motor vehicles [medium and large cars and SUVs]with a condition that No ITC is availed
  2. Old and used motor vehicles [other than medium and large cars and SUVs] with a condition that No ITC is availed
  3. Vehicle that is cleared as an ambulance (having all accessories necessary in ambulance)
  4. 10-13 seaters Buses and ambulances subject to specified conditions

GST Rate Changes for Services:

GST newly applicable on following:

  • GST Rate at 5%  on small housekeeping service providers, notified under section 9 (5) of GST Act, who provide housekeeping service through ECO,  without availing ITC
  • GST Rate at 28% on actionable claim in the form of chance to win in betting and gambling including horse racing

Rate reduced from 28% to 18%

  • Services by way of admission to theme parks, water parks, joy rides, merry-go-rounds, go-karting and ballet

Rate reduced from 18% to 12%

  • 1. Transportation of petroleum crude and petroleum products with ITC Credit.
  • 2. Metro and monorail projects (construction, erection, commissioning or installation of original works)
  • 3. Works Contract Services by Sub-contractor to the Main contractor under the following scenario:
  • Where the main contractor provides WCS to Central Government, State Government, Union territory, a local authority, a Governmental Authority or a Government Entity at the rate of 12%

Note: Similarly, GST Rate for Sub-contract services to the main contractor shall attract 5% where the Main contractor is providing services to Central Government, State Government, Union territory, a local authority, a Governmental Authority or a Government Entity at the rate of 5%

  • 4. Common Effluent Treatment Plants services for treatment of effluents
  • 5. Mining or exploration services of petroleum crude and natural gas and for drilling services in respect of the said goods

Rate reduced from 18% to 5%

  1. Tailoring Services
  2. Transportation of petroleum crude and petroleum products without ITC Credit.
  3.  Job-work services for manufacture of leather goods(Chapter 42) and footwear (Chapter 64)

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