The Central Board of Excise and Customs recently gave clarifications and provided solutions to the persistent queries across the textile fraternity, regarding the implementation and impact of the goods and services tax on different slab rates. As per the rates schedule, all the goods of a sale value less than Rs.1000 per piece will be taxed at 5%.
According to a CBEC report, there will be no tax on raw jute as it has been kept at a NIL rate of GST. The suppliers who are dealing in only raw jute need not require registering themselves under GST. Jute mills are also not required to pay tax under the Reverse Charge Mechanism because both the goods are at a NIL rate of duty. The rates for jute handbags and shopping bags are kept at 18%. Similarly, the rate of raw silk is maintained at NIL GST, hence there would be no tax on it. On the same note, the suppliers dealing with raw silk are not required to register themselves. Again, the cotton farmers are not liable to register but the purchasers of raw cotton from the farmers are required to pay tax on a reverse charge basis.
According to the rate schedule, all goods of a sale value not exceeding Rs.1000 per piece will be taxed at 5% and those exceeding Rs.1000 would be taxed at 12%. It is the sale value or the transaction value on which the tax has to be paid and not on the MRP. Sarees, whether embroidered or not will be taxed at the same rate of the fabric. This basically means that the rate of tax on sarees is totally dependent on the fabric of the saree. Similarly, the rate of tax on dress materials or patterns is the same as the rate of tax on apparels, which means the sale value not exceeding Rs.1000 will be taxed at 5% and apparels exceeding Rs.1000 will be taxed at 12%.
The HSN code is required to be mentioned by individuals up to a turnover of Rs.1.5 crore. For those having a turnover of Rs.1.5 to 5 crore, the first 2 digits or the chapter number of the HSN code is only required. Only those individuals with a turnover exceeding Rs. 5 crore will be required to mention the 4 digits of the HSN code.
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