India Customs Agency Clarifies GST Rates, Exemptions on Various Services

The Indian Central Board of Indirect Taxes and Customs Aug. 3 posted online Circular No. 177/09/2022-TRU, clarifying the GST rates and exemptions on various services. The clarification includes: 1) the 5 percent GST on the sale of space for advertisements in souvenir books; 2) a reduction of the GST rate to 12 percent from 15 percent on rental services of transport vehicles with operators, effective July 18; 3) that the location charges or preferential location charges paid upfront are exempt from GST; 4) that services associated with the transit cargo, both to and from Nepal and Bhutan, are exempt from ...