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of <h1>GST Council Confirms 5% GST on Imitation Zari Thread; No Refund for Polyester Tax Rate Inversion.</h1> The GST Council, in its 52nd meeting, clarified the GST rate for imitation zari thread or yarn. It confirmed that imitation zari thread made from metallised polyester or plastic film under HS 5605 is subject to a 5% GST rate as per Schedule I, Sl No. 218AA. This clarification addresses doubts about whether such products should instead be taxed at 12% under Schedule III, Sl No. 137. Additionally, no tax refund will be allowed for polyester or plastic film due to tax rate inversion. Relevant changes have been made in Notification No. 5/2017-STR through Notification No. 20/2023-STR.
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