GST Rate of 5% Applicable on Marine Engine and its Spare Parts Supplied to Unregistered Fishermen
GST Rate of 5% Applicable on Marine Engine and its Spare Parts Supplied to Unregistered Fishermen THE AUTHORITY OF ADVANCE RULING IN KARNATAKA The Qu…
Reetu
Feb 18, 2022Table of Contents
GST Rate of 5% Applicable on Marine Engine and its Spare Parts Supplied to Unregistered Fishermen
THE AUTHORITY OF ADVANCE RULING IN KARNATAKA
The Question and Ruling is Given Below:
i. Rate of GST on supply of Outboard Motors to unregistered fishermen and whether the HSN Code for the same is 8407 or 8408?RULING
i. The Outboard motors (marine engine) and its spare parts supplied for fishing vessel{for use as part of the fishing vessel- CTH 8902) shall attract GST at the rate of 5% /2.5%-CGST + 2.5%-KGST) as per entry at Sl.No.252 of Schedule I of Notification No.01/2017 Central Tax (Rate) dated 28.06.2017. If it is supplied for use other than as parts of fishing vessels GST shall be applicable at the rate of tax on such goods under the respective Customs Tariff Heading classified. To Read Ruling Download PDF Given Below :About Author
Reetu
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Reetu is a Content Writer with 4+ years of experience in GST, Income Tax, Finance, Company Law, Education and Career Related Content. She is a B.COM (Honrs.) Graduate.
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