Summary
Following the 57th GST Council meeting, CBIC classified sublimation paper under heading 4809 at 18% and said the reduced toy entries cover all heading 9503 toys, not only wheeled ones (5% non-electronic, 18% electronic). Used-vehicle dealers under the margin scheme can take ITC on inputs and services other than the second-hand vehicles, and seaweed-based bio-stimulants registered under the Fertiliser Control Order fall under heading 3101.
What it means for you
Past classification disputes on paper and bio-stimulants are regularised on an 'as is where is' basis, and used-car dealers can now claim ITC on overheads like repairs, rent and marketing.
This summary is general information, not legal advice. The outcome of any case depends on its facts; read the source and take advice before acting.
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