As an Indian small and medium business owner or startup founder, if you deal with musical instruments, you must be aware of the importance of the right GST rates and HSN codes. Amplified Musical Instruments are no exception. In this article, we will take a deep dive into the GST rates and HSN code for Amplified Musical Instruments in India.
Amplified Musical Instruments are musical instruments that require amplification for sound output. These instruments are designed to work with an amplifier, which is an electronic device that amplifies the sound generated by the instrument. Amplifiers can be powered by battery or electricity.
The GST rates for Amplified Musical Instruments are as follows:
1. 5% GST on Amplifiers
2. 18% GST on Speakers
3. 28% GST on Amplified Musical Instruments (all types)
Note that the GST rate for Amplified Musical Instruments is higher than the GST rate for non-amplified musical instruments. This is because amplified musical instruments are considered to be luxury items and are subject to higher taxes.
The HSN code for Amplified Musical Instruments is 9207. This code is used to identify Amplified Musical Instruments for tax purposes. It is important to use the correct HSN code when filing your taxes to avoid any penalties or fines.
As a business owner or startup founder, it is important to be aware of the GST rates and HSN codes for Amplified Musical Instruments. The GST rates for Amplified Musical Instruments are 5% for Amplifiers, 18% for Speakers, and 28% for Amplified Musical Instruments (all types). The HSN code for Amplified Musical Instruments is 9207. By using the correct GST rates and HSN codes, you can ensure that your taxes are filed correctly and avoid any penalties or fines.
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