GST Exam > GST Notes > Learn About GST : Updates and Rules > List of Services at 5% Rate - Rate Lists for Services
List of Services at 5% Rate - Rate Lists for Services | Learn About GST : Updates and Rules PDF Download
|
S. No. |
Description of Services |
Rate |
|
1 |
Transport of passengers by rail in first class or air conditioned coaches |
5% with ITC of input services |
|
2 |
Transport of passengers, by-
|
5% No ITC |
|
3 |
Transport of passengers by air in economy class |
5% with ITC of input services |
|
4 |
Transport of passengers, by air, embarking from or terminating in a Regional Connectivity Scheme Airport |
5% with ITC of input services |
|
5 |
Renting of motorcab where the cost of fuel is included in the consideration charged from the service recipient |
5% No ITC |
|
6 |
Transport of goods by rail |
5% with ITC of input services |
|
7 |
Transport of goods in a vessel |
5% with ITC of input services |
|
8 |
Services of goods transport agency (GTA) in relation to transportation of goods [including used household goods for personal use] |
5% No ITC |
|
9 |
Leasing of aircrafts by a scheduled airlines for scheduled operations |
5% with ITC of input services |
|
10 |
Selling of space for advertisement in print media. |
5% |
|
11 |
Supply of tour operators services |
5% No ITC |
|
12 |
Services by way of job work in relation to-
|
5% |
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FAQs on List of Services at 5% Rate - Rate Lists for Services - Learn About GST : Updates and Rules
| 1. What is the 5% rate list for services under GST? |  |
Ans. The 5% rate list for services under GST refers to the services that are charged at a tax rate of 5% as per the Goods and Services Tax (GST) regulations. These services fall under the 5% tax slab and are subject to a 5% GST rate.
| 2. What are some examples of services that fall under the 5% rate list? | |
Ans. Some examples of services that fall under the 5% rate list include transportation of goods by road, rail, air, or vessel (excluding the services provided by a GTA), renting of hotels, inns, guest houses, clubs, or campsites for residential or non-residential purposes, and transportation of passengers by air in economy class.
| 3. How does the 5% rate for services impact the cost of availing these services? | |
Ans. The 5% rate for services impacts the cost of availing these services by adding a 5% tax component to the total invoice amount. For example, if a service costs $100, the GST at 5% would be $5, making the total cost $105.
| 4. Are there any exemptions or exceptions to the 5% rate for services under GST? | |
Ans. Yes, there are certain exemptions and exceptions to the 5% rate for services under GST. For instance, certain specified services such as healthcare services, educational services, and services provided by the government or local authorities are exempted from GST. Additionally, services provided by a GTA (Goods Transport Agency) are subject to a different tax rate.
| 5. How can I identify if a service falls under the 5% rate list under GST? | |
Ans. To identify if a service falls under the 5% rate list under GST, you can refer to the official GST rate schedule provided by the government. This rate schedule categorizes different services along with their respective tax rates. Additionally, you can consult with a tax professional or refer to the relevant notifications issued by the GST authorities for specific details on the tax rates applicable to different services.
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Nov 16, 2024 Last updated |
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