Cotton Khadi yarn attracts no GST
My business is purchase and sale of cotton Khadi yarn. Should I need to pay GST in India on cotton Khadi yarn business? Is GST exempted on cotton Khadi yarn?
GST tax on cotton Khadi yarn under HSN chapter 52
As per GST Law, there is no GST payable on cotton Khadi yarn.
So the rate of GST payable on cotton Khadi yarn is nil rate.
The Goods and Services Tax (GST) will be levied at multiple rates ranging from 0 per cent to 28 per cent. GST Council finalised a four-tier GST tax structure of 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 cotton Khadi yarn is only for information.
The validity of above information and amendments about GST rate on cotton Khadi yarn may be verified before any business dealing.
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