Raw silk attracts no GST
Does my goods Raw silk exempt from paying GST? No GST applicable for Raw silk? Should I need to pay GST on my product Raw silk?
GST tax on Raw silk under HSN chapter 5002
As per GST Law, there is no GST payable on Raw silk.
So the rate of GST payable on Raw silk is nil rate.
Under GST, all goods and services transacted in India are classified under the HSN code system or SAC Code system. Goods are classified under HSN Code and services are classified under SAC Code. Based on the HSN or SAC code, GST rates have been fixed in five slabs, namely NIL, 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.
The above details about GST rate tariff on Raw silk is only for information.
The validity of above information and amendments about GST rate on Raw silk may be verified before any business dealing.
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