Aluminium Bars Rods - GST Rates & HSN Code 7604

Introduction:

Aluminium is a versatile metal used in a wide range of applications, including construction, transportation, and packaging. In India, the GST rates and HSN code for Aluminium Bars and Rods are important to understand for businesses that deal with these products.

GST Rates for Aluminium Bars and Rods:

Aluminium Bars and Rods fall under HSN code 7604 and are taxed at 18% under the GST regime. This rate applies to both primary and semi-fabricated aluminium products.

However, businesses can claim input tax credit for the GST paid on raw materials and other expenses incurred in the production of Aluminium Bars and Rods.

It is also important to note that the GST rates for Aluminium Bars and Rods may be subject to change, and businesses should always stay updated on the latest GST regulations.

HSN Code for Aluminium Bars and Rods:

The HSN code for Aluminium Bars and Rods is 7604. This code is used to classify Aluminium Bars and Rods for tax purposes.

Businesses must declare this code on their GST returns when selling or purchasing Aluminium Bars and Rods. Failure to do so can result in penalties or legal consequences.

Conclusion:

Understanding the GST rates and HSN code for Aluminium Bars and Rods is crucial for businesses that deal with these products in India. This knowledge can help businesses comply with the GST regulations, claim input tax credits, avoid penalties, and remain competitive in the market.

Therefore, businesses should stay updated on the latest GST regulations, consult tax experts, and use advanced software solutions to manage their tax compliance and financial operations.