Table of Contents
What is the GST on Glass?
18%
Glass and Glassware Taxed at 18% GST Carboys, bottles, flasks, jars, pots, phials, ampoules and other containers, of glass, of a kind used for the conveyance or packing of goods; preserving jars of glass; stoppers, lids and other closures, of glass.
What is the GST rate on steel?
After the implementation of GST, with effect from July 1, 2017, the rate of GST for steel is 18% and for some of the input used by the steel industry like iron, coal & transportation services, the GST rate is as low as 5%.
Which items are in 28 GST slab?
01.10. 2021
| Heading/ Sub-heading | Description of Goods | IGST Rate |
|---|---|---|
| 1703 | Molasses | 28% |
| 2106 90 20 | Pan masala | 28% |
| 2202 10 | All goods [including aerated waters], containing added sugar or other sweetening matter or flavoured | 28% |
| 2202 99 90 | Caffeinated Beverages | 28% |
What is HSN code?
HSN stands for Harmonised System of Nomenclature code. This is a 6-digit code that classifies various products. Manufacturers, importers and exporters have been using HSN codes for a long time now. The HSN code contains 21 sections. These are divided into 99 chapters which are divided into 1244 sections.
Is code for toughened glass?
70071900 – Toughened (tempered) safety glass: Other HS Code and Indian Harmonised System Code.
What is the GST rate for plywood?
28%
There has been a significant increase in the rate of plywood from the current average VAT rate of 5-6% to 28% under GST. Due to the increase in the tax rate on plywood, there are significant chances of increase in the cost of wooden furniture.
What is the rate of GST in TMT bar?
GST rates on iron and steel The manufacturing and sale of all kinds of iron and steel like iron rods, bars, and scraps of iron and steel, etc. are charged at the rate of 18%.
How do I calculate GST?
Formulae for GST Calculation:
- Where GST is excluded: GST Amount = (Value of supply x GST%)/100. Price to be charged = Value of supply + GST Amount.
- Where GST is included in the value of supply: GST Amount = Value of supply – [Value of supply x {100/(100+GST%)}]
What are 12 GST items?
12% GST Goods. Items with 12 Percent GST as on 01.10. 2021
| Heading/ Sub-heading | Description of Goods | IGST Rate |
|---|---|---|
| 0402 91 10, 0402 99 20 | Condensed milk | 12% |
| 405 | Butter and other fats (i.e. ghee, butter oil, etc.) and oils derived from milk; dairy spreads | 12% |
| 406 | Cheese | 12% |
| 801 | Brazil nuts, dried, whether or not shelled or peeled | 12% |
How do I find my HSN product code?
For example, if you are selling fresh bananas, you can find your HSN code under Section 02: Vegetable Products, Chapter 08: Edible fruits and nuts; peel of citrus fruits or melons, Heading 03: Bananas including Plantains, Subheading 9010: Bananas, fresh. Your HSN code will be 0803.
What is HSN in invoice?
HSN code stands for “Harmonized System of Nomenclature”. This system has been introduced for the systematic classification of goods all over the world.