Latest News – Khadi yarn, Gandhi topi, India’s national flag will not attract any tax under the goods and services tax (GST) regime, while imitation jewellery, pearls and coins will carry 3 per cent levy from the next month.
Besides, the GST Council on Saturday decided to include rudraksh, wooden khadau, panchamrit, tulsi-kanthi mala, panchgavya, sacred thread and vibhuti sold by religious institutions in the definition of ‘puja samagri’ and maintained that these items would be exempt under GST.
Also chandan tika, unbranded honey and wick for diya have been exempt the new indirect tax regime, which is scheduled to kick off form July 1.
However, five ‘puja samagri’ — lobhan, mishri, batasha and bura — will attract 5 per cent GST.
In the textiles category, blankets and travelling rugs, curtains, bed linen, toilet linen and kitchen linen, of terry towelling or similar terry fabrics costing below Rs 1,000 will attract a 5 per cent tax.
Also napkins, mosquito nets, sacks and bags, life jackets costing below Rs 1,000 would be taxed at 5 per cent.
While those costing above Rs 1,000 will attract a 12 per cent levy.
Silk and jute yarns have been exempt but cotton and natural fibres and all other yarns will be levied a 5 per cent GST.
Manmade fibres will, however, attract 18 per cent rate.
All categories of fabric, except khadi which has been exempt, will attract a 5 per cent rate.
Besides, Gandhi topi and India’s national flag have been exempt from (Read More)