53rd GST Council Meeting Updates On 22 June 2024

Changes in GST Rates of Goods:

  1. Uniform IGST Rate: 5% on imports of parts, components, testing equipment, tools, and tool-kits for air crafts.
  2. GST on Milk Cans: All milk cans (steel, iron, aluminum) to attract 12% GST.
  3. GST Reduction on Cartons: Carton, boxes, and cases of corrugated and non-corrugated paper/paper-board (HS 4819 10; 4819 20) reduced from 18% to 12%.
  4. GST on Solar Cookers: All types of solar cookers will attract 12% GST.
  5. Poultry Keeping Machinery: To amend entry covering machinery to specifically incorporate “parts” of Poultry keeping Machinery with 12% GST.
  6. Sprinklers: All types of sprinklers including fire water sprinklers to attract 12% GST.
  7. IGST Exemption for Defence Imports: Extend exemption for specified items for defence forces till 30th June, 2029.
  8. IGST Exemption for Research Equipment: Extend exemption on imports of research equipment/buoys under the RAMA programme subject to conditions.
  9. Compensation Cess Exemption: Exemption on imports in SEZ by SEZ Unit/developers for authorized operations from 01.07.2017.
  10. Exemption on Aerated Beverages: Exempt Compensation cess on supply to Unit Run Canteens under Ministry of Defence.
  11. IGST Exemption on Rifle Kits: Adhoc exemption on imports of technical documentation for AK-203 rifle kits for Indian Defence forces.


Changes in GST Rates of Services:

  1. Exemption on Railway Services: Exemption for services provided by Indian Railways to the general public and intra-railway transactions.
  2. Exemption for SPV Services to Railways: Exempt services by SPVs to Indian Railways during the concession period.
  3. Accommodation Services: Exemption for accommodation services up to Rs. 20,000 per month per person if supplied for a minimum of 90 days.
  4. Co-insurance Premium: Declare co-insurance premium apportioned by lead insurer to co-insurer as no supply under Schedule III.
  5. Reinsurance Commission: Declare ceding commission/re-insurance commission between insurer and re insurer as no supply under Schedule III.
  6. Reinsurance Services: GST liability on reinsurance services for specified insurance schemes.


Other Changes

  1. TCS Rate Reduction: Reduced to 0.5% from 1% for suppliers through ECOs.
  2. Monetary Limits for Appeals:
  • GSTAT: Rs. 20,00,000
  • High Court: Rs. 1,00,00,000
  • Supreme Court: Rs. 2,00,00,000
  1. Pre-deposit for Appeals:
  • Appeal with appellate authority: Maximum Rs. 20 crores CGST and SGST each.
  • Appeal with Appellate Tribunal: Reduced from 20% to 10% with a maximum of Rs. 20 crores CGST and SGST each.
  1. Insertion of Section 128A: Provide for conditional waiver of interest or penalty on full payment of tax demand before 31.03.2025 for FY 2017-18 to FY 2019-20.
  2. Amendment in Section 112: Allow three-month period for filing appeals before the Appellate Tribunal to start from a future notified date.
  3. Relaxation in ITC Availment:
  • Time limit to avail ITC deemed to be 30.11.2021 for financial years 2017-18 to 2020-21.
  • Retrospective amendment to relax applicability of Section 16(4) in cases where returns are filed within 30 days of order of revocation.
  1. Change in Due Date for GSTR-4: Due date for filing return in FORM GSTR-4 for composition taxpayers extended.


The 53rd GST Council meeting has proposed several changes, focusing on rate rationalization for both goods and services, reductions in TCS rates, and amendments to provide relief in appeals and ITC availment. These changes aim to simplify compliance, reduce litigation, and provide targeted exemptions to support various industries and services

Next Post

Durlax Top Surface shares debuted at ₹190.

Wed Jun 26 , 2024
IPO Dates: Bidding for the IPO ran from June 19, 2024, to June 21, 2024. Issue Size: The total issue size was ₹40.80 crores, with a fresh issue of ₹28.56 crores and an offer for sale of ₹12.24 crores. Price Band: The price per share was set between ₹65 and […]

You May Like