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of <h1>GST Council Clarifies 5% Rate on Imitation Zari Yarn Under HS 5605; No Refund for Tax Rate Inversion.</h1> The GST Council, in its 52nd meeting, clarified the GST rate on imitation zari thread or yarn. Previously, the Council recommended a 5% GST rate for these products, listed under Sl.No. 218AA of Schedule I. Questions arose about whether metallised yarn twisted with other materials falls under this category or under another attracting 12% GST. The Council clarified that imitation zari made from metallised polyester or plastic film under HS 5605 is subject to 5% GST. No refunds will be issued for polyester or plastic film due to tax rate inversion. Changes will be made in the relevant notification.
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