Year 2024 is about to end. Now everybody is ready to welcome the near 2025. In the meantime, On 21st December 2024 (Saturday), the 55th meeting of the GST Council was held in Jaisalmer. In this meeting, several decisions have been taken regarding GST rates. At the same time, many decisions have been postponed for the next meeting. We are telling you in this article what was decided in the GST Council meeting.
Used cars will be taxed more
The GST Council has changed the GST rates of EVs and used cars. Now you will have to pay 18 percent GST on buying second-hand EV cars from auto companies and dealers. However, if a person sells an EV car to another person, then there is no GST on it. At the same time, if the dealer adds the value of the EV, then 18% GST will be charged on the margin value. The new EV car will be charged 5 percent GST.
There will be no new tax on popcorn
So far there is no tax on popcorn, but in this meeting it has been decided to impose three types of taxes on popcorn. Now mixed-ready-to-eat popcorn will be charged 5% GST. Labelled popcorn will be taxed at 12 per cent and caramel popcorn will be taxed at 18 per cent.
No decision on insurance and food order
No decision has been taken on reducing or removing GST on health insurance and life insurance. Apart from this, no decision was taken on reducing or increasing the GST rate on the orders of other food delivery food companies like Zomato and Swiggy. Insurance and food order decisions have been postponed.
Decisions were made on these things
1. There has been no change in GST rates on hotels and restaurants.
2. There has been no discussion on GST on online gaming.
3. According to the decision taken in the meeting, 5 percent GST will be levied on clothes up to Rs 1,500. Clothes between Rs 1,500 and Rs 10,000 will be taxed at 12 per cent. Clothes priced above Rs 10,000 will be taxed at 28 per cent.
4. Fortified rice was earlier taxed at 12 per cent. Now it has been reduced to 5 percent.
5. In the meeting, it was decided to make cancer genetherapy tax free.
6. ACC bricks used in construction, which have more than 50 per cent fly ash, were taxed at 18 per cent. Now it will be 12 percent GST.
