As an Indian small or medium business owner, you may be wondering about the GST rates and HSN code for articles made of natural cork. These products are commonly used in a variety of industries, including wine and spirits, footwear, and home decor. In this article, we'll explore the GST rates and HSN code for articles made of natural cork, so you can stay informed and compliant.
Cork is a natural material that comes from the bark of the cork oak tree, which is primarily grown in Portugal and Spain. The bark is harvested every 9-12 years, without harming the tree, and then processed into a variety of products. Cork is prized for its durability, elasticity, and resistance to moisture, making it ideal for use in a wide range of applications.
Articles of natural cork include a wide range of products, including:
1. Bottle stoppers, including wine corks and champagne corks
2. Flooring tiles
3. Footwear, such as cork sandals and insoles
4. Home decor, such as cork coasters and placemats
5. Industrial products, such as gaskets and insulation material
The GST rates for articles of natural cork vary depending on the specific product. Here are the GST rates for some of the most common articles of natural cork:
1. Bottle stoppers: 18%
2. Flooring tiles: 18%
3. Footwear: 5%
4. Home decor: 12%
5. Industrial products: 18%
It's important to note that these rates are subject to change, so it's always a good idea to check the latest GST rates before making any purchases or sales.
The HSN code for articles of natural cork is 4503. This code is used to classify goods for taxation purposes and is based on the Harmonized System of Nomenclature (HSN). The HSN code for articles of natural cork is used for all types of products made from natural cork, regardless of their specific use or application.
As an Indian small or medium business owner, it's important to stay informed about the GST rates and HSN codes for the products you buy and sell. Articles made of natural cork are no exception. By understanding the GST rates and HSN code for articles of natural cork, you can ensure that you're charging the correct amount of tax and avoiding any potential compliance issues.
GST will not apply to Kashmir in its present form: Hasib Drabugst-will-not-apply-to-kashmir-in-its-present-form-hasib-drabu
GST on Loan Interest by Indian Subsidiary to Foreign Holding Company
Freelancers Under GST – An Impact Analysis
