Table of Contents
Is VAT applicable on furniture?
Current average VAT rate applicable on iron or steel furniture is 12.5% whereas under GST except for wooden furniture, any other articles of furniture would be charged tax at the rate of 28%.
How much is GST on a chair?
HSN Code 1605
| HS Code | Description | GST% |
|---|---|---|
| 16055500 | OTHER SEATS Products Include: Plastic Chairs, Massage Chair, Revolving Chair | 12% |
| 16055700 | BARBERS OR SIMILAR CHAIRS AND PARTS THEREOF Products Include: Massage Chair | 12% |
| 16055800 | OTHERS Products Include: Ruler, Revolving Chair | 12% |
What is the rate of VAT in India?
The standard VAT rates are 18% and 12%. The reduced rate is 5%. India also has some zero-rated goods, the sale of which must still be reported on your VAT return, even though no VAT is charged.
How much GST is on plastic furniture?
HSN Code 1605
| HS Code | Description | GST% |
|---|---|---|
| 16055500 | OTHER SEATS Products Include: Plastic Chairs, Massage Chair, Revolving Chair | 12% |
| 16056200 | OTHERS Products Include: Plastic Chairs, Dinning Table, Wooden Table, Ms Stand, Revolving Chair | 12% |
Can GST be claimed on furniture?
GST: ITC can be availed on Equipment, Furniture, Reagents/consumables used for Performing Test, rules AAR [Read Order] The Karnataka Authority of Advance Ruling (AAR) ruled the Input Tax Credit (ITC) can be availed on equipment, furniture, reagents/consumables used for performing tests.
Is GST applicable on wood?
Under GST, firewood or fuelwood and wood charcoal (including shell or nut charcoal), whether or not agglomerated are not taxable. Wood in chips or particles; sawdust and wood waste and scrap, whether or not agglomerated in logs, briquettes, pellets or similar forms is taxed at 5% GST.
What is the GST rate for Wood?
Wood and Wooden Products attracting 18% GST.
How do I calculate VAT?
VAT= Output Tax – Input Tax For instance, a dealer purchases goods of Rs 100 and pays a 10% VAT (Rs 10) on the same. You then purchase the goods at Rs 150 from the dealer, and s/he collects 10% VAT (Rs 15) from you. Here, the output tax is Rs 15 and the input tax is Rs 10.
How much GST is on a mattress?
GST Rate for HSN Chapter 94
| HSN Code | HSN Item Description | GST Rate in Percentage |
|---|---|---|
| 9404 10 00 | Mattress supports | 28 |
| Mattresses: | ||
| 9404 21 | Of cellular rubber or plastics, whether or not covered: | |
| 9404 21 10 | Of Rubber | 28 |
What is HSN code for table?
HSN Code 4420
| HS Code | Description | GST% |
|---|---|---|
| 44209060 | *PARTS OF DOMESTIC CECOR ARTICLES FOR TABLE/KITCHENWARE | 12% |