CBIC notifies 5% GST for imitation zari thread or yarn

The Central Board of Indirect Taxes and Customs (CBIC) has notified that 5% Goods and services tax (GST) on imitation zari thread or yarn made out of Metallized polyester film /plastic film via an official notification.

CBIC explained that this entry shall apply for a refund of input tax credit only on polyester film or plastic film and come into force with effect from the 20th day of October, 2023.

The official notification stated:

In the exercise of the powers conferred by clause (ii) of the proviso to sub-section (3) of section 54 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 5/2017-Central Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 677(E), dated the 28th June 2017, namely :

In the said notification, in the TABLE, after S. No. 6A and the entries relating thereto, following S.No. and the entries shall be inserted, namely:

2. This notification shall come into force with effect from the 20th day of October, 2023.

For official notification download the PDF Given below: