GST on Bricks Industry – Changes w.e.f April 1st, 2022

  • Blog|GST & Customs|News|
  • 80 Views
  • |
  • 2 Min Read
  • By Taxmann
  • |
  • Last Updated on 19 May, 2022

GST on bricks industry

Pinkesh Chhajed – [2022] 138 taxmann.com 275 (Article)

From 1st April 2022, with respect to Bricks, rate of tax along with the claiming of Input Tax Credit and the reporting details of the same in Form GSTR-1 has undergone major changes. In this article, the author has summarised such changes with help of comparison charts along with difficulties in reporting in Form GSTR-1 and possible solution.

Nature of BRICKS covered:

Tariff Item Description Rate till 31.03.22 Rate from 01.04.22 (Concessional)* Rate from 01.04.22 (Regular)
6815 Fly ash bricks or fly ash aggregate with 90 per cent. or more fly ash content; Fly ash blocks 5% (2.5 + 2.5) 6% (3+3) 12 (6+6)
6901 00 10 Bricks of fossil meals or similar siliceous earths 5% (2.5 + 2.5) 6% (3+3) 12 (6+6)
6904 10 00 Building bricks 5% (2.5 + 2.5) 6% (3+3) 12 (6+6)
6905 10 00 Earthen or roofing tiles 5% (2.5 + 2.5) 6% (3+3) 12 (6+6)
*Concessional Rate
There are certain pre-conditions for opting the concessional rate which are explained as below:
  1. Exclusive ITC –ITC cannot be taken with respect to tax charged on goods / services used exclusively in supplying the above mentioned goods.
  2. Common ITC –Proportionate ITC is required to be reversed with respect to tax charged on goods / services used partly for supplying the above mentioned goods and party for the other goods on which ITC is eligible.
In nutshell, ITC cannot be claimed with respect to above goods, if taxpayer opts for 6% composition scheme.
Click Here To Read The Full Article

Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.

Leave a Reply

Your email address will not be published. Required fields are marked *

Everything on Tax and Corporate Laws of India

To subscribe to our weekly newsletter please log in/register on Taxmann.com

Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied