Stipend taxable or no

Taxable.............

GST council has fixed 5 % rate over most of the taxtile goods:

1. Fabrics of wool or of animal hair [5111, 5112, 5113] [With no refund of ITC accumulation]

2. Cotton fabrics [5208, 5209, 5210, 5211, 5212] [With no refund of ITC accumulation]

3. Fabrics of other vegetable textile fibres, paper yarn [5309, 5310, 5311] [With no refund of ITC accumulation]

4. Fabrics of manmade textile materials [5407, 5408] [With no refund of ITC accumulation]

5. Fabrics of manmade staple fibres [5512, 5513, 5514, 5515, 5516] [With no refund of ITC accumulation]

Where it is clearified that the 'refund of accumulated Input Tax Credit on account of inverted duty structure' will not be available..........

No change in the stand so far...... but some relief is expected by the industry...... refer

business-standard/20170618