GST: The CBIC has issued circular to clarify GST rates & classification of certain services based on the recommendations of the 54th GST Council meeting. Here’s a short summary:(14.10.2024)

Daily Updates / By

The CBIC has issued circular to clarify GST rates & classification of certain services based on the recommendations of the 54th GST Council meeting. Here’s a short summary:

 

  1. Affiliation Services: Universities’ affiliation services to colleges are taxable at 18% GST. Affiliation services to government schools are exempt from 10th October 2024.
  2. Flying Training: DGCA-approved flying training courses are exempt from GST.
  3. Helicopter Transport: Passenger transport by helicopter on a seat-share basis is taxed at 5%; 18% for charter services.
  4. Goods Transport: Incidental services in road transport are treated as composite supply unless invoiced separately.
  5. Film Distributors: GST on transactions between distributors and exhibitors is regularized for 2017-2021.
  6. Electricity Services: Ancillary services by electricity utilities are exempt from GST from 10th October 2024.

 

[Circular No. 235/29/2024-GST dated 11.10.2024]