GST tax rate on silk products such as silk yarn, silk fabric and silk sarees
watch_later 1 year, 1 month ago
What will be the rate of tax on silk items?
At what percentage tax should be paid on:
- Raw silk
- Waste silk
- Silk yarn
- Silk fabric
Raw silk, Silk cocoon and Silk waste are exempted from tax.
Other silk items are taxed at 5%, with full Input tax credit, however refund of excess ITC is not available.
Exempted from tax:
1. Silkworm laying, cocoon 
2. Raw silk 
3. Silk waste 
Taxed at 5% with full ITC (No refund):
1. Silk yarn [5004, 5005, 5006]
2. Woven fabrics of silk or silk waste  [With no refund of ITC accumulation]
From the rates announced so for we can understood that all silk fabrics are taxable including silk sarees manufactured through handloom, which are at present exempted from both VAT and Central Excise. Whatever rates announced are general, however separate Notification may be issued in future to make Silk Sarees made through handloom to exempt.
Handloom product should have been exempted. - Rahul Rai
You need to be logged in to answer.
- refund of itc on pre-export sales
- GST on penalty
- GSTIN by Name
- conversion from composition to general
- Plywood ka g s t kaise nikalte hai
- SEARCH GST NO. WITH PAN
- Gst practitioner exam
- We are getting responses for just 2 requests in 15 minutes
- Agriculture bore repair
- GST Eway bill Compile error in Hidden module sheet 3 and date format error solved
- API for getting GSTIN Details, Validate GST number
- GSP and ASP model of GSTN is injustice with startups and small businesses
- GST helpline customer care and contact number
- E-way bill in case of Bill to Ship to transactions
- Basic E-way rules and FAQ
- What is GST?
- GST Suvidha Kendra
- Documents required for GST registration
- Frauds possible under GST?
BUY DSC FOR MCA, IT AND GST
Experience KnowyourGST services. Apply for DSC and get it on same day. We promise fastest delivery of your DSC.
Whatsapp - 73386 33003
Telegram - @knowyourgst
Contact us on Whatsapp and Telegram number 7338633003 for quick reply.