India: CBIC releases clarifications on GST rates applicable to certain goods and exemptions on various services
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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.