Refund of input tax credit: new classification allows refund for imitation zari thread made from metallised polyester or plastic film. The notification inserts entry 6AA in the Table to classify imitation zari thread or yarn made out of metallised polyester film or plastic film under heading 5605, with an explanation that the entry applies for refund of input tax credit only on polyester film or plastic film; the amendment to Notification No. 5/2017-State Tax (Rate) is effective from 20 October 2023.
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Refund of input tax credit: new classification allows refund for imitation zari thread made from metallised polyester or plastic film.
The notification inserts entry 6AA in the Table to classify imitation zari thread or yarn made out of metallised polyester film or plastic film under heading 5605, with an explanation that the entry applies for refund of input tax credit only on polyester film or plastic film; the amendment to Notification No. 5/2017-State Tax (Rate) is effective from 20 October 2023.
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