Historical Rates Reform in GST 2.0

Description

Historical Rates Reform in GST 2.0 by Rakesh Garg and Sandeep Garg (September 2025 2nd Edition) provides an insightful analysis of the major rate restructuring under India’s Goods & Services Tax. This 384-page book explains the rationale, impact, and practical implications of GST 2.0 rate reforms, making it a valuable reference for professionals, academicians, consultants, and businesses. Published by  Commercial Law Publishers, the book captures the latest updates, amendments, and policy changes in GST rate structure. Available at a flat 25% discount with free shipping. ISBN: 9789349957497.

CONTENTS

About the Author v

Content at Glance vii

PART – A

GLANCE

CHAPTER A1

PREAMBLE AND NOTIFICATIONS – GST 2.0 – FROM 22 SEPT. 2025

A) Preamble A1-1

A.1 GST Rate Rationalization – Vision to reduce GST slabs A1-1

A.2 56th GST Council Meeting overhauls India’s GST Structure with a Two-Rate System A1-1

A.3 Key Highlights of the 56th GST Council Meeting A1-2

1. B) Pass on the benefit to the consumer – Anti Profiteering A1-3

B.1 Primary objective of rationalization of GST Rates A1-3

B.2 Anti-profiteering A1-3

B.3 Government’s commitments and steps A1-3

C) Rates Notifications – Implementing recommendations of 56th Meeting of the GST Council A1-4

CHAPTER A2

TRANSITION– OLD VS. NEW GST RATE

A) TIME OF SUPPLY – OLD vs. NEW GST RATE A2-1

A.1 Why this discussion is necessary? A2-1

A.2 Sec. 14 – Change in rate of tax in respect of supply of goods or services A2-1

A.3 Supply of Services – To summarize A2-1

A.4 Supply of Goods (other than composition tax payers) – To summarize A2-2

A.5 FAQ by Press Release dated 03 Sept. 2025 A2-3

B) Debit Notes and Credit Notes A2-4

CHAPTER A3

TRANSITION – STOCK AND ACCUMULATED ITC – UTILISATION & REFUND

A) Stock as on 21.09.2025 A3-1

A.1 If the outward supply has been exempted A3-1

A.2 GST Rates have been reduced on Goods A3-3

A.3 GST Rate on goods held in stock, but supplied on or after 22.09.2025 A3-3

B) Accumulated ITC – Utilisation and Refund A3-3

B.1 If the outward supply has been exempted – Persons exclusively supplying such goods or trading these goods – Accumulated ITC A3-3

B.2 Where GST Rate has been reduced or persons is supplying taxable as well as exempt supplies – Accumulated ITC A3-4

C) E-way Bills A3-6

CHAPTER A4

CHANGE IN GST RATES –HSN WISE COMPARISON AS ON 22 SEPT. 2025

A Change in GST Rates on Goods – HSN-wise A4-1

1.1 Change in rates of Goods A4-1

1.2 Change in value; No change in rate (5%) A4-35

1.3 Change in value; No change in rate (18%) A4-36

1.4 Change in IGST rate (18% to Nil) A4-36

B Change in GST Rates on Services – HSN-wise A4-38

CHAPTER A5

EXEMPTED SUPPLIES FROM 22 SEPT. 2025

I Impact of Exemptions in the GST A5-1

II List of Exempted goods and services A5-1

CHAPTER A6

CHANGE IN GST RATES – MOTOR VEHICLES – BIG GAIN FROM 22 SEPT. 2025

Motor Vehicles = [Old GST Rate + Cess] vs. New GST Rate A6-1

CHAPTER A7

HEALTH & PHARMA – FROM 22 SEPT. 2025 – A MONETARY RELIEF A7-1

CHAPTER A8

CONSTRUCTION SECTOR – FROM 22 SEPT. 2025 – REDUCED COST OF INPUTS A8-1

CHAPTER A9

ARTICLES OF APPAREL & FOOTWEAR– FROM 22 SEPT. 2025 –MIXED RESPONSE A9-1

CHAPTER A10

PAPER, PAPERBOARD, TEXTILE, SPORTS AND ELECTRONICS – FROM 22 SEPT. 2025

A) Paper and Paper Products A10-1

B) Textile Sector A10-3

C) Sports A10-7

D) Consumer Electronics A10-8

CHAPTER A11

FAQS RELEASED ON THE RECOMMENDATION OF THE GST COUNCIL

A) FAQ dated 03.09.2025 A11-1

B) FAQ dated 15.09.2025 A11-10

C) FAQ dated 18.09.2025 A11-14

D) FAQ dated 18.09.2025 A11-16

PART – B

GST RATES & EXEMPTIONS

CHAPTER B1

EXEMPTIONS IN THE GST – GOODS– EFFECTIVE FROM 22 SEPTEMBER 2025

I Notification No. 10/2025-Central Tax (Rate), dated 17 Sept. 2025 effective from 22 Sept. 2025 B1-2

II Explanations & Annexures in Notification No. 10/2025-Central Tax (Rate), dated 17 Sept. 2025 effective from 22 Sept. 2025 B1-16

III Notification No. 7/2017-CT (Rate), dated 28 June 2017 and No. 7/2017-IT (Rate), dated 28 June 2017– CSD supplies – Exempt B1-22

IV Notification No. 26/2017-CT (Rate), dated 21 Sept. 2017 and No. 26/2017-IT (Rate), dated 21 Sept. 2017– NPCIL – Exempt B1-22

V Notification No. 30/2017- IT (Rate), dated 22 September 2017- Exempt B1-22

VI Notification No. 26/2018 – CT (Rate), dated 31 December 2018; 27/2018 – IT (Rate), dated 31 December 2018- Exempt B1-23

VII Notification No. 11/2019- IT (Rate), dated 29 June 2019 w.e.f. 01 July 2019- Exempt B1-23

VIII Notification No. 19/2019 – Customs, dated 06 July 2019; as amended from time to time including N. No. 37/2025 – Customs, dated 17 Sept. 2025 effective from 22Sept 2025 – Exempt B1-23

IX Notification No. 19/2019 – CT (Rate), dated 30 Sept. 2019 and No. 18/2019- IT (Rate), dated 30 Sept. 2019; both w.e.f. 01 Oct. 2019- Exempt B1-24

CHAPTER B2

GST RATES ON GOODS – EFFECTIVE FROM 22 SEPTEMBER 2025

I Notification No. 9/2025-Central Tax (Rate), dated 17 Sept. 2025 B2-3

I-1 Schedule – I – 5% B2-3

I-2 Schedule – II – 18% B2-55

I-3 Schedule – III – 40% B2-127

I-4 Schedule – IV – 3% B2-129

I-5 Schedule – V – 0.25% B2-131

I-6 Schedule – VI – 1.5% B2-132

I-7 Schedule – VII – 28% B2-133

II Explanations – Notification No. 9/2025, dated 17Sept. 2025 w.e.f. 22 Sept. 2025 B2-133

III Notification No. 3/2017 [G.S.R. 675(E) dated 28th June, 2017] Notifying 2.5% concessional CGST rate for supplies to petroleum operations undertaken under exploration license/ mining lease B2-134

IV Notification No. 50/2017-Customs, dated 30 June 2017; as amended from time to time; including N. No. 36/2025 – Customs, dated 17 July 2025 effective from 22 September 2025 B2-137

V Notification No. 37/2017-Central Tax (Rate) dated 13 Oct. 2017 B2-137

VI Notification No. 39/2017-Central Tax (Rate) dated 18 Oct. 2017, as amended from time to time B2-139

VII Notification No. 40/2017-Central Tax (Rate) dated 23 Oct. 2017 B2-140

VIII Notification No. 8/2018-Central Tax (Rate) dated 25 January 2018, as amended from time to time B2-141

IX Notification No. 21/2018-CT (R) dated 26 July 2018,w.e.f. 27 July 2018, as substituted vide N. No. 13/2025-CT(R), dated 17.09.2025, w.e.f. 22.09.2025 B2-142

X Notification No. 02/2022-Central Tax (Rate) dated 31 March 2022 B2-145

CHAPTER B3

EXEMPTIONS IN THE GST – SERVICES – AS ON 22 SEPTEMBER 2025

(A) Notification No. 09/2017-Integrated Tax (Rate), dated 28 June 2017 as amended from time to time [Other than those covered in Part (B) of this Chapter] B3-2

(B) Notification No. 12/2017-Central Tax (Rate), dated 28 June 2017; No. 9/2017-Integrated Tax (Rate), dated 28 June 2017 as amended from time to time B3-5

(C) Notification No. 11/2017- Central Tax (Rate) dated 28 June 2017; No. 8/2017-Integrated Tax (Rate), dated 28 June 2017 B3-34

(D) Notification No. 5/2018-CT (Rate), dated 25 January 2018; No. 5/2018- IT (Rate), dated 25 January 2018 B3-35

(E) Notification No. 6/2018- IT (Rate), dated 25 January 2018 B3-35

(F) Explanations and definitions given in the Notification No. 12/2017–Central Tax (Rate), dated 28 June 2017-Relating to the services B3-36xiii xiv

CHAPTER B4

GST RATES ON SERVICES – AS ON 22 SEPTEMBER 2025

Notification No. 11/2017-Central Tax (Rate) andNo. 8/2017-Integrated Tax (Rate), both dated 28 June 2017 as amended from time to time B4-1

CHAPTER B5

GST RATES OF COMPENSATION CESS– AS ON 22 SEPTEMBER 2025

1. GOODS B5-2

(A.1) Notification No. 1/2017-Compensation Cess (Rate) dated 28 June 2017 as amended from time to time B5-2

(A.2) Notification No. 4/2017-Compensation Cess (Rate) dated 20 July 2017 B5-11

(A.3) Notification No. 7/2017-Compensation Cess (Rate) dated 13 October 2017 B5-11

(A.4) Notification No. 1/2019-Compensation Cess (Rate) dated 29 June, 2019 B5-12

(A.5) Notification No. 1/2024-Compensation Cess (Rate) dated 12 July, 2024 B5-12

(A.6) Notification No. 1/2025-Compensation Cess (Rate) dated 16 January, 2025 B5-13

1. SERVICES B5-14

(B.1) Notification No. 2/2017-Compensation Cess (Rate) dated 28 June 2017 as amended from time to time B5-14

Additional information

Publisher	Commercial