When it comes to importing or exporting any product, it is crucial to know the accurate GST rates and HSN codes. Brazil Nuts, also known as Bertholletia Excelsa, are native to South America and are highly nutritious, with a rich, creamy flavor. They are a popular ingredient in many dishes and are also used in the manufacture of various products such as spreads, bars, and oils. In this article, we will discuss the GST rates and HSN codes for Brazil Nuts.
GST stands for Goods and Services Tax, which is an indirect tax levied on the supply of goods and services. It is a value-added tax that is collected at every stage of the supply chain, from the manufacturer to the consumer. GST has replaced multiple indirect taxes such as VAT, excise duty, and service tax, and it is implemented to simplify the tax structure and promote ease of doing business in India.
HSN stands for Harmonized System of Nomenclature, which is a standardized system of names and numbers used to classify products for the purpose of taxation. HSN codes are used to identify the products and determine the applicable GST rates. Each product is assigned a unique HSN code based on its nature, composition, and usage.
Brazil Nuts fall under the category of nuts and dried fruits, which are taxed at the highest GST rate of 12%. This rate is applicable to all types of nuts and dried fruits, including Brazil Nuts. Therefore, any person importing or supplying Brazil Nuts will be liable to pay GST at a rate of 12%.
The HSN code for Brazil Nuts is 0801 22 00. This code is used to identify the product and determine the applicable GST rate. The first two digits ‘08’ represent the chapter for edible fruits and nuts, while the next two digits ‘01’ represent the heading for nuts, other than groundnuts, and the last six digits ‘22 00’ represent the product description for Brazil Nuts.
In conclusion, Brazil Nuts are taxed at a GST rate of 12%, and their HSN code is 0801 22 00. Any person importing or supplying Brazil Nuts must be aware of these rates and codes to avoid any legal consequences. It is essential to have a thorough understanding of the GST rates and HSN codes for all products, as it is an integral part of doing business in India.
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