CIRCULAR NO. 205/17/2023-GST [F. NO. CBIC-190354/195/2023-TO… SECTION 9 OF THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 – LEVY AND COLLECTION – CLARIFICATION REGARDING GST RATE ON IMITATION ZARI THREAD OR YARN BASED ON THE RECOMMENDATION OF GST COUNCIL IN ITS 52ND MEETING HELD ON 7-10-2023

CIRCULAR NO. 205/17/2023-GST [F. NO. CBIC-190354/195/2023-TO(TRU-II)], DATED 31-10-2023The GST Council in its 50th meeting had recommended reduction of GST rate to 5% on imitation zari thread or yarn known by any name in trade parlance, following which Sl. No. 218AA had been inserted in Schedule I of notification no. 1/2017-Central Tax (Rate), dated 28-6-2017. Doubts have been raised whether metal coated plastic film converted to metallised yarn and twisted with nylon, cotton, polyester or any other yarn to make imitation zari thread is...

Become a Premium member. If you are already a Premium member, please login here to access the full content.