AAR: Marine Propellers/accessories taxable at concessional rate of 5%

Karnataka AAR rules that concessional rate of 5% in terms of entry no. 252 of Schedule I to Notification No. 1/2017-Central Tax (Rate) dated June 28, 2017 is applicable to marine propellers, rudder set, stern tube set, propeller shaft and MS couplings subject to the condition that these goods form part of goods falling under specified headings; Notes that the products marine propellers and its accessories are meant to be used in the fishing sector, however, observes that appl...