Highlights 55th GST Council Meeting held on 21-12-2024

 Highlights 55th GST Council Meeting;

1. Key Highlights from the 55th GST Council Meeting: Tax Rate Changes Across Various Sectors:

i. Popcorn Taxation:
ii. Unpackaged salted or spiced popcorn: 5% GST. 
iii. Pre-packaged popcorn: 12% GST. 
iv. Caramel-coated popcorn: 18% GST. 

2. Fortified Rice Kernels: The GST on fortified rice kernels has been reduced from 18% to 5%. 

3. Autoclaved Aerated Concrete (ACC) Blocks: 
  i. GST on ACC blocks containing more than 50% fly ash has been reduced from 18% to 12%. 

4. Used Cars and Electric Vehicles (EVs):
i. GST for used cars, including small petrol, diesel, and electric vehicles, has been increased from 12% to 18%. 

5. Proposals from the GoM Apparel:
  i. Garments priced up to ₹1,500: 5% GST. 
  ii. Garments priced above ₹10,000: 28% GST. 

6. Packaged Drinking Water: A proposal to reduce the GST rate on packaged drinking water to 5% is under consideration. 

7. Bicycles:
  i. Bicycles priced under ₹10,000 are proposed to attract a 5% GST rate.