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Highlights of the 50th GST Council Meeting
July 16 , 2023
490 days
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- The 50th Meeting of the GST Council took place in New Delhi.
- It decided to reduce the GST rate on uncooked/unfried snack pellets to 5%.
- The Council has exempted IGST on medicines and Food for Special Medical Purposes (FSMP) when imported for personal use.
- To encourage better utilization of LD slag, the GST rate on LD slag has been reduced from 18% to 5%.
- Casinos, horse racing and online gaming will be taxed at a uniform rate of 28%.
- The Council recommends extending the GST exemption on satellite launch services supplied by ISRO.
- Food and beverages sold at the cinemas to get covered under 'restaurant service', liable to 5% GST.
- Fish soluble paste reduced from 18% to 5%.
- Imitation Zari threads/yarn reduced from 12% to 5%.
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