India: CBIC releases clarifications on GST rates applicable to certain goods and exemptions on various services
The Central Board of Indirect Taxes and Customs of India released Circular No. 77/09/2022-TRU, clarifying GST rates applicable to goods and GST-exempt services. The Circular covers the following:
- A 5% GST rate on the sale of advertising space in souvenir books.
- A GST rate cut from 15% to 12% on transport vehicle rental services with operators, from July 18.
- Site fees or preferred location fees paid in advance are exempt from GST.
- Services related to moving goods to and from Nepal and Bhutan are not obliged to pay GST.
- GST is not waived for companies that rent vehicles that are used to transport people.
Source: taxinformation.cbic.gov.in
