Cashew Industry should Think About the Default Tax Rate Under GST Schedule III

This entry was posted on Sunday, July 9th, 2017 and is filed under Cashew.

According to reports, the default tax rate under GST is 18%. Goods which are not specified in schedule  I, II, IV, V, VI are classified under Schedule III with the HSN: Any Chapter.

– If the above news is true, the industry should accept the default rate of 18% for cashew shells, husk and rejections. There is no loss in accepting 18% rate for shells as the product is the raw material for CNSL.

Otherwise, the seller will have to face the consequences during the assessment.

Filed Under: Cashew