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Rate classification - Goods and Services Tax - GSTExtract Dear experts, Facts: 1. There is ambiguity in the industry relating to rate classification of a particular product. The industry is of the view of applying a HSN where the GST rate is lower whereas the GST department is contending a HSN where GST rate applicable will be higher than the one claimed by Industry 2. There a 2 high court decisions where rate of the product is passed in favour of the Industry. Against one of the high court decision the GST Department has approached the supreme court and court has rejected the plea made by department. Queries: 1. Should the industry wait for the GST council/CBIC to release a rate amendment notification based on the Supreme court rejection as mentioned above. OR 2. Should the industry proceed with apply the HSN with lower GST rate based on the supreme court rejection. Kindly provide your inputs on how to proceed further.
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