Central Board of Indirect Taxes and Customs (CBIC) issued following Notifications on 08.10.2024 viz.
- Amendment in GST rate on goods
- Notification no. 05/2024-Central Tax (Rate) dated 08.10.2024
- Notification no. 05/2024-Union Territory Tax (Rate) dated 08.10.2024
- Notification no. 05/2024-Integrated Tax (Rate) dated 08.10.2024
- Amendment in RCM on goods
- Notification no. 06/2024-Central Tax (Rate) dated 08.10.2024
- Notification no. 06/2024-Union Territory Tax (Rate) dated 08.10.2024
- Notification no. 06/2024-Integrated Tax (Rate) dated 08.10.2024
- Amendment in GST rate on services
- Notification no. 07/2024-Central Tax (Rate) dated 08.10.2024
- Notification no. 07/2024-Union Territory Tax (Rate) dated 08.10.2024
- Notification no. 07/2024-Integrated Tax (Rate) dated 08.10.2024
- Amendment in GST exemption on services
- Notification no. 08/2024-Central Tax (Rate) dated 08.10.2024
- Notification no. 08/2024-Union Territory Tax (Rate) dated 08.10.2024
- Notification no. 08/2024-Integrated Tax (Rate) dated 08.10.2024
- Amendment in RCM on services
- Notification no. 09/2024-Central Tax (Rate) dated 08.10.2024
- Notification no. 09/2024-Union Territory Tax (Rate) dated 08.10.2024
- Notification no. 09/2024-Integrated Tax (Rate) dated 08.10.2024
1. Amendment in GST rate on goods
Notification no. 05/2024 dated 08.10.24 issued to make further amendment in GST rate on goods notification no. 01/2017 dated 28.06.2017
Changes in 5% GST rate bracket
following entry no. inserted after item number 232
- “(233) Trastuzumab Deruxtecan
- (234) Osimertinib
- (235) Durvalumab”
Changes in 12% GST rate bracket
New serial no. 32C inserted “Extruded or expanded products, savoury or salted (other than un-fried or un-cooked snack pellets, by whatever name called, manufactured through process of extrusion)” falling under HSN 1095 90 30.
Changes in 18% GST rate bracket
column (3) of serial no. 16 is substituted as “un-fried or un-cooked snack pallets, by whatever name called, manufactured through process of extrusion, extruded or expanded products, savoury or salted”.
serial no. 435A entry is substituted.
HSN 9401 [Other than 9401 10 00 or 9401 20 00], Seats (other than those of heading 9402), whether or not convertible into beds and parts thereof other than seats of a kind used in aircraft or seats of a kind used for motor vehicles”.
Changes in 28% GST rate bracket
New entry 210A inserted “Seats of a kind used for motor vehicles”
This notification shall come into force with effect from the 10th day of October, 2024.
In line with the above stated amendment in CGST, an amendment in UTGST and IGST is made vide Notification no. 05/2024-Union Territory Tax (Rate) & Notification no. 05/2024-Integrated Tax (Rate) both dated 08.10.2024.
2. Amendment in RCM on goods
RCM on goods Notification no. 4/2017-Central Tax (Rate) dated 28.06.2017 is amended vide Notification no. 06/2024-Central Tax (Rate) dated 08.10.2024.
Entry no 8 is inserted whereby the supply of metal scrap is added under RCM. The registered recipient of metal scrap falling under HSCN 72, 73, 74, 75, 76, 77, 78, 79, 80 or 81 shall pay tax under RCM when the supply is received from an unregistered person.
This notification shall come into force with effect from the 10th day of October, 2024.
In line with the above stated amendment in CGST, an amendment in UTGST and IGST is made vide Notification no. 06/2024-Union Territory Tax (Rate) & Notification no. 06/2024-Integrated Tax (Rate) both dated 08.10.2024.
3. Amendment in GST rate on services
Notification no. 07/2024 dated 08.10.24 makes further amendment in the GST Rate on services notification no. 11/2017-Central Tax (Rate) dated 28.06.2017.
In the said notification, new item entry (ivb) is inserted whereby the GST rate on ‘transportation of passengers, with or without accompanied baggage, by air, in a helicopter on seat share basis’ is specified as 5% (CGST 2.5% + SGST 2.5%) provided that credit of input tax charged on goods used in supplying the service has not been taken.
Further, in serial no. (vii), after the brackets and figures (iva), the brackets and figures “(ivb),” shall be inserted.
This notification shall come into force with effect from the 10th day of October, 2024.
In line with the above stated amendment in CGST, an amendment in UTGST and IGST is made vide Notification no. 07/2024-Union Territory Tax (Rate) & Notification no. 07/2024-Integrated Tax (Rate) both dated 08.10.2024.
2. Amendment in GST exemption on services
Notification no. 08/2024 CTR dated 08.10.2024 issued to make further amendment in the service rate exemption notification no. 12/2017-CTR dated 28.06.2017.
New entry 25A is being inserted
Supply of services by way of providing metering equipment on rent, testing for meters/transformers/capacitors etc., releasing electricity connection, shifting of meters/service lines, issuing duplicate bills etc., which are incidental or ancillary to the supply of transmission and distribution of electricity provided by electricity transmission and distribution utilities to their consumers.
New entry 44A is being inserted
Research and development services against consideration received in the form of grants supplied by –
(a) a Government Entity; or
(b) a research association, university, college or other institution, notified under clauses
(ii) or (iii) of sub-section (1) of section 35 of the Income Tax Act, 1961.
falling under Heading 9981 ,
Provided that the research association, university, college or other institution, notified under clauses (ii) or (iii) of subsection (1) of section 35 of the Income Tax Act, 1961 is so notified at the time of supply of the research and development service.”
New entry 66A is being inserted
Services of affiliation provided by a Central or State Educational Board or Council or any other similar body, by whatever name called, to a school established, owned or controlled by the Central Government, State Government, Union Territory, local authority, Governmental authority or Government entity.
falling under Heading 9992
Serial no. 69 shall be substituted
Any services provided by –
(a) the National Skill Development Corporation set up by the Government of India;
(b) he National Council for Vocational Education and Training;
(c) an Awarding Body recognized by the National Council for Vocational Education and Training;
(d) an Assessment Agency recognized by the National Council for Vocational Education and Training;
(e) a Training Body accredited with an Awarding Body that is recognized by the National Council for Vocational Education and Training,
in relation to-
(i) the National Skill Development Programme or any other scheme implemented by the National Skill Development Corporation; or
(ii) a vocational skill development course under the National Skill Certification and Monetary Reward Scheme; or
(iii) any National Skill Qualification Framework aligned qualification or skill in respect of which the National Council for Vocational Education and Training has approved a qualification package.
falling under Heading 9983 or Heading 9991 or Heading 9992.
Following term in Serial number 71 shall be substituted
against serial number 71, in column (3), for the words “National Council for Vocational Training”, the words “National Council for Vocational Education and Training” shall be substituted.
in paragraph 2 of the said notification,
(A) in item (h), –
(a) in sub-item (i), for the words “National Council for Vocational Training”, the words “National Council for Vocational Education and Training” shall be substituted.
(b) in sub-item (ii), for the words “National Council for Vocational Training”, the words “National Council for Vocational Education and Training” shall be substituted.
This notification shall come into force with effect from the 10th day of October, 2024.
In line with the above stated amendment in CGST, an amendment in UTGST and IGST is made vide Notification no. 08/2024-Union Territory Tax (Rate) & Notification no. 08/2024-Integrated Tax (Rate) both dated 08.10.2024.
4. Amendment in RCM on services
Notification no. 09/2024-Central Tax (Rate) dated 08.10.2024 issued to make further amendment in RCM notification no. 13/2017-Central Tax (Rate) dated 28.06.2017.
New entry no. 5AB is inserted whereby on the “Service by way of renting of any property other than residential dwelling.” the recipient being registered person shall pay GST under RCM where the service is supplied by an unregistered person.
This notification shall come into force with effect from the 10th day of October, 2024.
In line with the above stated amendment in CGST, an amendment in UTGST and IGST is made vide Notification no. 09/2024-Union Territory Tax (Rate) & Notification no. 09/2024-Integrated Tax (Rate) both dated 08.10.2024.
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