Rate of GST payable for Silk and Silk products

GST rate payable on Silk

 

Silk falls under HSN code chapter 50 of GST commodity tariff schedule.  The details about GST rate changes on sale of Silks are being updated here.  The notification changes on exemptions on GST on sale of Silk and other circulars related to GST on Silk and Silk products are updated in this website.

 

Click here to know GST exempted list

 

Update on 4thJUNE, 2017: GST rates on goods

 

NIL GST RATE:

1. Silkworm laying, cocoon [GST HSN chapter code 5001]

2. Raw silk [GST HSN chapter code 5002]

3. Silk waste [GST HSN chapter code 5003]

 

5% GST RATE :

1. Silk yarn [GST HSN chapter code 5004, GST HSN chapter code 5005, GST HSN chapter code 5006]

2. Woven fabrics of silk or silk waste [GST HSN chapter code 5007] [With no refund of ITC accumulation] 

 

Reduced GST Rates on 9th September 2017

                                                                                                Present GST rate        Reduced GST rate

                50        Khadi fabric, sold through Khadi and                        5%                 Nil

                            Village   Industrries   Commission’s outlets 

 

Rate of GST payable for Silk and Silk products

In India, GST is payable on silk.  However, some of the categories business under HSN code 50 are expected to be exempted from paying GST.  The list of exempted commodities and services under GST is expected to be released soon.

 Goods and Service Tax (GST) rate tariff in India is designed in 6 categories of goods and services.  Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively.  Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%.   The most essential goods and services attract nil rate of GST under Exempted Categories.     Luxury goods and services and certain specific goods and services   attract additional cess than 28% GST.

 

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Click here to know GST exemption list of goods and service

 

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Rate of GST payable for Silk and Silk products

No need to pay GST on sale of Raw silk

Zero rate of GST on purchase of Silkworm laying

No need to pay GST on purchase of Cocoon

Zero rate of GST on sale of Silk waste

 

Rate of GST payable for Silk and Silk products

No need to pay GST on sale of Raw silk

Zero rate of GST on purchase of Silkworm laying

No need to pay GST on purchase of Cocoon

Zero rate of GST on sale of Silk waste

GST rate payable for photographic goods and cinematographic commodities 

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The above information about GST rate on commodities under HSN code mentioned above commonly clarifies on questions explained under:

GST expenses on silkworm cocoons suitable for reeling

Total GST charges on raw silk (not thrown)

Total GST rate on silk waste, including silk yarn waste etc.

Total tax on GST on silk yarn, not spun from waste, not retail packed

Amount of GST to be paid on yarn spun from silk waste not put up for retail sale

Amount of GST rate on silk yarn & yarn from waste put up for ret, silkworm gut in India

What is the GST tariff on woven fabrics of silk or silk waste?


Comments


SWAMY.: DEAR SIR, 1) I AM MERCHANT EXPORTER . I EXPORT SILK FABRICS UNDER SHIPPING BILL. MY EXPORTS AT PRESENTS ARE TO EUROPE. DO I HAVE ANY GST??? 2) AS I AM A MERCHANT EXPORTER THE FABRIC IS MADE TO ORDER BY A WEAVER. SOMETIMES IF SILK FABRIC IS READY I BUY AND EXPORTS. SOME TIMES IT MAY BE MY WEAVER OR A WHOLE SALE. 3) IF I EXPORT MIXED FABRIC LIKE SILK MIX WITH VISCOSE OR COTTON IS THERE IS ANY GST ??? 4) I DO NOT SELL THE ABOVE WITHIN INDIA. IT IS 100% EXPORTS. 5) I HAVE REGISTER WITH IMPORT & EXPORT, RBI CODE NUMBER ETC., 6) PLEASE LET ME WHO HAS TO PAY GST. 95% OF THE FABRICS ARE HAND WOVEN OR HANDLOOM. REGARDS:

Narasimhan : If a mulberry silk realar sale his silk he take gstin is compulsory or not..?

BALAJI: what is the GST rate of silk ? and i want to about the structure of it.

Vinoth kymar: How maney parcantage tusad silk gst

NAVEEN KUMAR: Hello Sir, I Naveen Kumar from Bangalore has a small clarification on GST related to Silk Yarns. If we Import mulberry raw silk from China should we pay GST and duty tax for the product ? If yes what would be the GST and duty tax % to pay and suppose if we plan to resell the same silk to others in Bangalore what is the procedure to be followed in terms of GST ? Thank You Naveen Kumar

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