Council resolves ambiguity regarding EPC contracts taxability, exempts IIMs degree/diploma, slashes peak 28% rate

31st meeting of GST Council considers process of rate rationalization and balancing revenue flows; All goods except sin goods, auto-parts and cement parts removed from 28% slab; Resolves ambiguity regarding GST rate applicable where specified goods attracting 5% GST are supplied along with services of construction etc. and other goods for solar power plant; Council recommends that in all such cases, 70% of gross value shall be deemed as value of supply of said goods...