Sources have told ET Bureau’s Deepshikha Sikarwar that the council has agreed to clarify that Autoclaved Aerated Concrete (AAC) blocks with more than 50% fly ash content will fall under HS code 6815 and attract a reduced GST rate of 12 per cent instead of 18 per cent.
Moreover, the GST council in its meeting chaired by Nirmala Sitharaman has approved the increase in rate on sale of old and used cars including EV to 18 per cent from 12 per cent.
The council has also recommended simplifying the GST structure for fortified rice kernels by reducing the tax rate to 5 per cent irrespective of end use, rather than complicating the existing concessions.
The GST Council also clarified on tax attracted on ready-to-eat popcorn. Popcorn mixed with salt and spices, resembling nankeens, will attract 5 per cent GST if supplied as other than pre-packaged and labelled and 12 per cent GST if supplied as pre-packaged and labelled, as per sources. However, popcorn mixed with sugar, such as caramel popcorn, changes its essential character to a sugar confectionery and will be classifiable under HS 1704 90 90, attracting 18 per cent GST.
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Meanwhile, the council deferred the decision on insurance-related matters for further examination, as there was no consensus during the Group of Ministers (GoM) meeting on the subject.
