GST rate changes, 38th GST council meeting

Posted on 13 June 2022 Category : GST rate

38^th GST council meeting, GST rate changes

38^th GST Council meeting held on 18^th December, 2019 at New Delhi took following decisions relating to changes in GST rates, exemptions,

To exempt upfront amount payable for long 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 1^st January, 2020.

To levy a single rate of GST @ 28% on both State run and State authorized lottery. This change shall become effective from 1^st 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 GST 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 1^st January, 2020.

The decision of the GST Council which would be given effect to through Gazette notifications/ circulars which shall have force of law.