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New GST Rates amid 12th July 50th GST council Meeting

GGST rates Increased or Decreased



The 50th GST council meeting that took place on 12th July Tuesday has the below outcomes:


ITEMS/PARTICULARS/PRODUCTS/SERVICES

CURRENT GST RATES (OLD RATES)

MODIFIED  GST RATES (NEW RATES)

Quarziba Medicine

12%

NIL ( Not Taxable)

FSMP (Medicines & Food for special Medical Purposes.

12%

NIL ( Not Taxable)

Imitation (Copying/duplicity) of Zari Thread

12%

5%

LD slag

18%

5%

Uncooked/Unfried snack pellets

18%

5%

Fish Soluble paste

18%

5%

Private Satellite Launch Service

18%

NIL ( Not Taxable)

Food and beverages when sold with Cinema Ticket.

18%

5%

Gaming /Horse Racing / Casino

18%

28%

Cess on Utility Vehicles (If certain Parameters Met)

28%

28% + 22% Cess as compensation

  1. Quarziba Medicine is a Cancer Medicine used to treat cancer of nerve cells. Due to decrease in this Medicine GST it will be easier for patients to get Cancer treatments as now many can afford them due to decrease in GST Rate.
  2. FSMP (Medicines & Food for special Medical Purposes are medicines that give nutritional support to patients suffering from any kind of special disease.
  3. Imitation of Zari Thread  is made when copper wires are drawn from copper alloys, they are electroplated with silver and then wound around the base yarn and reeled. Purpose behind this imitation is that it makes it cheaper than pure Zari.
  4. LD slag is a solid waste produced during steel manufacture in basic Oxygen furnace. Decreasing GST rate purpose to increase its reusability of supplanting Cement with LD slag.
  5. Uncooked/Unfried snack pellets are Raw in nature and semi Processed for example Uncooked Pasta beans, Uncooked Fries etc.

  1. Fish Soluble paste is rich in dissolved proteins vitamins and amino acids. it can be used as an ingredient in aquaculture Diets.


  1. Private Satellite Launch Service Chandrayan-3



  1. Food and beverages when sold with Cinema Ticket.

  1. Gaming /Horse Racing / Casino

  1. Cess on Utility Vehicles (If certain Parameters Met) Parameters are 
  • MUVs and XUVs if meet below Conditions
  • Length of Car exceeding 4000 mm
  • Engine capacity Exceeding 1500 CC
  • Ground clearance of 170 mm and above in unladen condition.

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