Goods and Services That Might Get Exempted under GST

List of Goods to be Exempted under GST

The following is a list of goods to be exempted from GST:

  • Auctions are held to sell the presents presented to the President, Prime Minister, Governor, or Chief Minister of a State. These revenues are donated to public and charity organizations after being received by the government, which is why they are proposed to be excluded from paying taxes.
  • The gold provided by Nominated Agencies to exporters of pieces of gold jewelry is eligible for a tax exemption.
  • Following the customs convention on the temporary importation of private road vehicles, automobiles brought into the country for a limited time qualify for an exemption from the value-added tax and the compensation cess.

List of Services to be Exempted under GST

The following list identifies the services that qualify for a tax exemption and gives them for your perusal:

  • The government offers loan guarantee services to the government’s undertakings and public sector organizations (PSUs) so that they may get bank loans.
  • As part of the Pradhan Mantri Jan Dhan Yojana, participating banks must provide the Basic Savings Bank Deposit (BSBD) account holders with the following range of services:
    – At hospitals, schools, and rehabilitation services as established by the government, as well as charitable institutes that are registered under Section 12AA of the Income Tax Act, 1961.
    – Rehabilitation professionals who are recognized under the Rehabilitation Council of India Act, 1992 offer a variety of services to patients. These professionals are responsible for providing these services.

Additionally, the taxes that apply to these services might potentially be waived.


Are applicants permitted to make changes to the information they provide in their registration applications?

After the application has been registered for GST, there may be a need for revisions to the registration owing to various causes, such as an address change, change in contact number, change in company data, and so on. For taxpayers to make any changes to their information after registering, they need to submit an Application for Amendment of Registration.
There are two distinct varieties of the Application for Amendment of Registration, which are as follows:

  1. Submission of an Application to Modify Essential Fields in Registration.
  2. Request for the Modification of Registration’s Non-Core Fields (Application).

Can I preserve the amendment to the registration application? If so, for what duration?

Your application for Amendment of Registration may be saved for 15 days following the amendment. However, if you fail to submit your application for registration modification within 15 days after commencing it, the application for registration amendment will be immediately erased.

What commodities are planned to be excluded from the GST?

Article 366(12A) of the Constitution, as modified by the 101st Constitutional Amendment Act of 2016, defines the Products and Services Tax (GST) as a tax on the provision of goods, services, or both, except the delivery of alcoholic beverages for human use. Therefore, alcohol for human use is exempt from GST according to the constitutional definition of GST. Five petroleum products have been temporarily exempted from the GST, including petroleum crude, motor spirit (petrol), high-speed diesel, natural gas, and aviation turbine fuel. The GST Council will determine when they will be subject to the tax. Additionally, power has been excluded from the GST.

What will the taxing status of the items mentioned in the above question be after the implementation of the GST?

The present taxing structure (VAT and Central Excise) will remain regarding the following items.

How will tobacco and tobacco based products be treated under the GST regime?

Tobacco and tobacco-based products are subject to the GST. In addition, the Centre would be able to impose a central excise charge on certain items.

How will the GST regime classify goods and services?

The Harmonised System of Nomenclature (HSN) code is used to classify goods under the GST system. Taxpayers whose sales are more than Rs. 1.5 crores but less than Rs. 5 crores will use a 2-digit code, while those whose sales are more than Rs. 5 crores will use a 4-digit code. Taxpayers with a turnover of less than Rs. 1.5 crores do not have to include the HSN Code on their bills.