Bones and horn cores are commonly used materials in a range of industries, including food processing, medical, and crafts. As such, it is important for business owners and startup founders in India to understand the GST rates and HSN code for these materials.
According to the GST rate schedule, bones and horn cores are classified under Chapter 5, which covers animal products. The GST rate for bones and horn cores is 5%, which is a relatively low rate compared to other goods and services.
It is worth noting that GST rates are subject to change, so it is important to stay up-to-date with the latest rates and regulations.
The HSN code for bones and horn cores is 0506. This code is used to identify and classify goods for tax purposes. The HSN code system is used across India to ensure consistency in tax rates and classifications.
When importing or exporting bones or horn cores, it is important to provide the correct HSN code to avoid any issues with customs or tax authorities. Business owners and startup founders should ensure that they have a clear understanding of the HSN code system and how it applies to their specific industry and products.
Understanding the GST rates and HSN code for bones and horn cores is essential for small and medium business owners and startup founders in India. By staying up-to-date with the latest regulations and classifications, businesses can ensure that they are compliant with tax laws and avoid any potential issues with customs or tax authorities.
If you require any further information on this topic or have any questions, please do not hesitate to contact us. Our team of experts is always on hand to provide assistance and support to small and medium business owners and startup founders in India.
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