Breif Issue :
Clarification on the rate of tax in respect of marine propeller, rudder set, stern tube set, propeller shaft and M.S. Shaft for couplings which are used as parts of fishing vessels
Commodities such as marine propellers, rudder set, stern tube set, propeller shaft and M.S. Shaft for couplings used as a part of fishing/floating vessels would come under the Entry 252 of Schedule 1 of Notification No. 01/2017 Central Tax (Rate) dated 28.06.2017 and State Notification 36012017 dated 30.06.2017 and hence taxable @5%.
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