Clarification regarding GST rate on imitation zari thread or yarn based on the recommendation of the GST Council in its 52nd meeting held on 7th October, 2023
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GST rate classification for imitation zari clarified: metallised film-based yarn taxed at reduced rate; no refunds for film. Imitation zari thread or yarn made from metallised polyester film or plastic film is classified under the imitation zari Schedule I entry and attracts the reduced GST rate recommended by the GST Council; no refunds are permitted for metallised polyester/plastic film on account of rate inversion.
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GST rate classification for imitation zari clarified: metallised film-based yarn taxed at reduced rate; no refunds for film.
Imitation zari thread or yarn made from metallised polyester film or plastic film is classified under the imitation zari Schedule I entry and attracts the reduced GST rate recommended by the GST Council; no refunds are permitted for metallised polyester/plastic film on account of rate inversion.
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