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India GST Panel Raises Some Rates; Didn’t Take Up Crypto

June 29, 2022, 12:24 PM

India’s GST Council accepted a panel’s report on correcting some inverted duties, leading to increase of tax rates in some segments.

  • The Council didn’t take up a proposal to levy GST on crypto transactions, Finance Minister Nirmala Sitharaman told reporters in Chandigarh after a two-day meeting with provincial ministers
  • GST on LED lamps, their metal printed circuit boards was raised to 18% from 12%, according to a statement
  • GST raised on tetra packs to 18% from 12%; rate for cut and polished diamonds raised to 1.5% from 0.25%
  • The tax rate on solar water heater and system was increased to ...