Aluminium Powders - GST Rates HSN Code 7603

As an Indian small or medium business owner or startup founder, it's important to stay up-to-date with the latest GST rates and HSN codes. In this article, we'll be discussing the GST rates and HSN code for aluminium powders.

What is an HSN code?

An HSN code is a Harmonized System of Nomenclature code that is used to classify goods for tax purposes. The HSN code for aluminium powders is 7603. Aluminium powders are used in a variety of industries, including automotive, construction, and aerospace.

GST rates for aluminium powders

The GST rate for aluminium powders is 18%. This rate applies to all types of aluminium powders, including atomized, flaked, and granulated powders.

Impact of GST rates on businesses

The 18% GST rate on aluminium powders can have a significant impact on businesses. This rate can increase the cost of production and make it difficult for businesses to remain competitive in the market.

How to calculate GST on aluminium powders

To calculate GST on aluminium powders, you can use the following formula:

GST = (Price of aluminium powder x GST rate)/100

Conclusion

As a business owner or startup founder, it's important to stay informed about GST rates and HSN codes. The GST rate for aluminium powders is 18%, and the HSN code is 7603. By understanding these rates and codes, you can better manage your business finances and remain competitive in the market.