Background:
The Government has notified a revised tax structure for the Brick Kilns sector effective from April 01, 2022. In this new tax structure, the Government has provided the GST rate of 12% (with ITC) or 6% (without ITC) for the supply of bricks, roofing tiles etc.
The Finer Points:
• With the introduction of the new rates, the manufacturer supplier of the specified products would not be entitled to avail of the composition scheme.
• Further, the threshold limit for the persons engaged in the supply of specified goods has been reduced from Rs. 40 Lakhs to Rs. 20 Lakhs.
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Drafted by Taxmann’s Advisory & Research Support Services
