No GST payable on sale of coir fibre
Is GST applicable on coir fibre? My business is sale of coir fibre, should I need to pay GST on coir fibre? Is GST exempted on coir fibre?
Goods and Service Tax on coir fibre under HSN Chapter 5305
As per GST Law, there is no GST payable on coir fibre.
So the rate of GST payable on coir fibre is nil rate.
There are six GST tax slabs – 0, 5, 12, 18, 28, and 28 percent plus cess. 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.
The above details about GST rate tariff on coir fibre is only for information.
The validity of above information and amendments about GST rate on coir fibre may be verified before any business dealing.
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