Notifications issued for GST rates reductions as per 44th GST Council meeting recommendations
CBIC has issued notifications to give effect to the recommendations of 44th meeting of the GST Council for reduction in GST rates.
GST Council in its 44th meeting held on 12th June 2021 has recommended reductions in the GST rates on various items used in Covid-19 relief and management till 30th September, 2021.
The summary of Notifications issued is as under:
| Notification No. | Subject | Amendments made |
| No. 33/2021-Customs | IGST on Oxygen concentrator, imported for personal use | Notification No. 30/2021-Customs, rescinded |
|
No. 04/2021-Central Tax (Rate) No. 04/2021-Integrated Tax (Rate) No. 04/2021-Union Territory Tax (Rate) |
GST rate on a structure meant for funeral, burial or cremation of deceased | Amendment to Notification No. 11/2017 Central Tax (Rate) to provide for reduced rates of CGST/IGST/UGST during the period from 14th June, 2021 to 30th September, 2021, the central tax on a structure meant for funeral, burial or cremation of deceased. |
| No. 05/2021-Central Tax (Rate) No. 05/2021-IntegratedTax (Rate) No. 05/2021-Union Territory Tax (Rate)
|
Reduction in CGST rates on Covid-19 relief goods | Nil or reduced rates for Medical Grade Oxygen, Remdesvir, Pulse Oximeter, Covid-19 testing kits, Hand Sanitizer, Oxygen Concentrator/ generator, ventilators, Ambulances etc. |
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- Full year depreciation on vehicle can not be denied based on registration date
- No remission/cessation of liability if trading liability is declared in books of account
- Approval u/s 80G for new cases to be effective from year in which application is made
- Penalty u/s 271B deleted as assessee was unaware of Tax Audit Provision
- Provisional empanelment status of CA firms/LLPs with CAG for 2023-24
