Animal or Vegetable Fats and Oils Boiled are essential ingredients in the food and manufacturing industries. These are used as cooking oils, lubricants, and in the production of soaps, cosmetics, and other products. The GST council has set a tax rate and HSN code for the Animal Or Vegetable Fats and Oils Boiled category.
The GST rate for Animal or Vegetable Fats and Oils Boiled is set at 5%. This is a reduced rate and applicable on the following items:
1. Fish liver oil and fish oil
2. Edible mixtures or preparations of animal or vegetable fats or oils or of fractions of different fats or oils
For other items in this category, the GST rate is set at 12%. This applies to items like vegetable fats and oils, hydrogenated vegetable fats, animal fats, and oils.
HSN codes are important for identifying items for taxation purposes. The HSN code for Animal Or Vegetable Fats and Oils Boiled category is 1518. This HSN code is applicable to all items in this category.
Understanding the GST rates and HSN code for Animal Or Vegetable Fats and Oils Boiled is important for businesses dealing with these items. The 5% and 12% GST rates are applicable depending on the item in question, while the HSN code 1518 is applicable across the board.
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