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of <h1>GST Council Sets 5% Rate for Imitation Zari Thread Under HS 5605, Clarifies Tax Rate Inversion Issues.</h1> The GST Council, in its 52nd meeting, clarified the GST rate on imitation zari thread or yarn. The Council recommended a 5% GST rate for imitation zari thread made from metallised polyester or plastic film under HS 5605, as per Sl. No. 218AA of Schedule I. This clarification addresses doubts about whether such yarns fall under this category or under the 12% GST category for other metallised yarns. The Council also decided that no refund will be allowed for polyester or plastic films due to tax rate inversion. Relevant notifications have been updated accordingly.
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