In re S R Propellers Pvt. Ltd. (GST AAR Karnataka)
Whether the rate of tax applicable is 5% on commodities such as marine propellers, rudder set, stern tube set, propeller shaft and couplings used only for the purpose of the fishing or floating vessels?
The concessional rate of 5% GST in terms of entry number 252 of Schedule I to the Notification No.01/2017-Central Tax (Rate) dated 28.06.2017 is applicable to the products marine propeller, rudder set, stern tube set, propeller shaft and MS couplings subject to the condition that the said parts form parts of goods falling under 8901, 8902, 8904, 8905, 8906 & 8907.
FULL TEXT OF ORDER OF AUTHORITY OF ADVANCE RULING, KARNATAKA
ORDER UNDER SECTION 98(4) OF THE CENTRAL GOODS AND SERVICE TAX ACT, 2017 AND UNDER SECTION 98(4) OF THE KARNATAKA GOODS AND SERVICES TAX ACT, 2017
1. M/s S R Propellers Pvt. Ltd., (called as the ‘Applicant’ hereinafter), Plot No.249, Near Mungaru Bus Stop, KIADB Industrial Area, Baikampady. Mangaluru PIN-575011, having GSTIN number 29AAUCS3044D1Z4, have filed an application for Advance Ruling under Section 97 of the CGST Act, 2017 86 KGST Act, 2017 read with Rule 104 of the CGST Rules 2017 & KGST Rules 2017, in FORM GST ARA-01, discharging the fee of Rs.5,000/- each under the CGST Act and the KGST Act.
2. The Applicant is a Private Limited Company and is registered under the Goods and Services Act, 2017. The applicant has sought advance ruling in respect of the following question:
Whether the rate of tax applicable is 5% on commodities such as marine propellers, rudder set, stern tube set, propeller shaft and couplings used only for the purpose of the fishing or floating vessels.
3. The applicant furnishes some facts relevant to the stated activity:
a. The applicant states that they are into the business of manufacturing of Marine Propellers and accessories and the said products are intended to supply to the fishing sector.
b. The applicant states that they are charging 18% GST on their products and they supply said products on adoption of the following HSN codes in their invoices.
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