rupee notes attracts no GST
Is rupee notes when sold to the Reserve Bank of India is exempted to pay GST? Any GST concession on sale of rupee notes when sold to the Reserve Bank of India? Is GST payable on rupee notes when sold to the Reserve Bank of India?
GST tax on rupee notes when sold to the Reserve Bank of India under HSN chapter 4817
As per GST Law, there is no GST payable on rupee notes when sold to the Reserve Bank of India.
So the rate of GST payable on rupee notes when sold to the Reserve Bank of India is nil rate.
We already know that the GST slabs are pegged at 5%, 12%, 18% & 28%. under GST- 5 percent for essential goods, standard rate of 12 and 18 percent, high rate of 28 percent and peak rate of 28 percent plus cess for luxury items. The most essential goods and services attract nil rate of GST under Exempted Categories.
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The above details about GST rate tariff on rupee notes when sold to the Reserve Bank of India is only for information.
The validity of above information and amendments about GST rate on rupee notes when sold to the Reserve Bank of India may be verified before any business dealing.
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