GST Council Meeting Today: Check latest GST rates on Electrical vehicles, EV chargers, new GST laws

GST Council Meeting Today: Check latest GST rates on Electrical vehicles, EV chargers, new GST laws

GST Council Meeting July 2019: The Finance Ministry today said that GST Council has decided to reduce GST rate on Electrical Vehicles from 12% to 5% and on EV Chargers from 18% to 5% from 1st August 2019. GST Council has also approved exemption from GST on hiring of Electric Buses by local authorities. The meeting was chaired by Finance Minister Nirmala Sitharaman through video conferencing.

The 36th GST Council Meeting was held today via video Conference under the chairmanship of Union Finance & Corporate Affairs Minister Nirmala Sitharaman. The meeting was also attended by Union Minister of State for Finance & Corporate Affairs Shri Anurag Thakur besides Revenue Secretary Shri Ajay Bhushan Pandey and other senior officials of the Ministry of Finance.

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GST Council recommendations:

A. GST rate related changes on supply of goods and services

– The GST rate on all electric vehicles be reduced from 12% to 5%.

– The GST rate on charger or charging stations for Electric vehicles be reduced from 18% to 5%.

– Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities be exempted from GST.

– These changes shall become effective from 1st August, 2019.

B. Changes in GST law:

– Last date for filing of intimation, in FORM GST CMP-02, for availing the option of payment of tax under notification No. 2/2019-Central Tax (Rate) dated 07.03.2019 (by exclusive supplier of services), to be extended from 31.07.2019 to 30.09.2019.

– The last date for furnishing statement containing the details of the self-assessed tax in FORM GST CMP-08 for the quarter April, 2019 to June, 2019 (by taxpayers under composition scheme), to be extended from 31.07.2019 to 31.08.2019.

 

Source:-zeebiz

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