Recommendations of the 55th Meeting of the GST Council

The GST Council inter-alia made the following recommendations relating to changes in GST tax rates, provide relief to individuals,measures for facilitation of trade and measures for streamlining compliances in GST. A. Changes in GST rates of goods GOODS 1.  To reduce the GST rate on Fortified Rice Kernel (FRK), classifiable under 1904, to 5%. 2. To exempt GST on gene therapy. 3. To extend IGS…