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

    Jul 9th, 2017

    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.