1. GST Rate Changes for Goods
5% GST Rate: Applicable to Trastuzumab Deruxtecan, Osimertinib, and Durvalumab.
12% GST Rate: Reduced from 18% for extruded or expanded products (savoury/salted, excluding unfried or uncooked snack pellets).
5% GST Rate: For unfried or uncooked snack pellets made through extrusion.
28% GST Rate: Increased from 18% for motor vehicle seats to align with motorcycle seats. This applies prospectively to motor car seats.
(Notifications: 05/2024-CT(R), UTT(R), IT(R) dated 08.10.2024)
2. Reverse Charge Amendment for Goods
Reverse Charge: GST on supply of metal scrap by unregistered persons to registered persons now falls under reverse charge.
(Notifications: 06/2024-CT(R), UTT(R), IT(R) dated 08.10.2024)
3. GST Rate Changes for Services
5% GST Rate: Reduced from 18% for passenger transport by helicopter on a seat share basis, provided no input tax credit on goods is claimed.
(Notifications: 07/2024-CT(R), UTT(R), IT(R) dated 08.10.2024)
4. Service Exemptions
Exemptions: Services related to metering equipment rental, testing, application fees for electricity connections, R&D services (government entities and research institutions), and affiliation services by educational boards to government schools.
Skill Development Services: Expanded exemptions for services provided by National Skill Development Corporation and affiliated bodies.
Amendments: Substitution of ‘National Council for Vocational Training’ with ‘National Council for Vocational Education and Training’.
(Notifications: 08/2024-CT(R), UTT(R), IT(R) dated 08.10.2024)
