If you're a business owner, you understand the importance of knowing the GST rates and HSN codes for your products. Chicory is a popular food additive and coffee substitute, and understanding its GST rates and HSN code is essential for businesses that import or sell this product in India.
Chicory is a plant that belongs to the dandelion family. It is grown in many parts of the world, including India. The roots of the chicory plant are roasted and ground to make a coffee substitute. Chicory is also used as a food additive to add flavor to various dishes.
Chicory falls under the category of "Vegetables and Edible Preparations of Vegetable Origin" and has a GST rate of 5%. This means that if you're importing or selling chicory in India, you need to charge a 5% GST on all sales.
The HSN code for chicory is 7052. This code falls under Chapter 7 of the HSN code, which covers vegetables and edible preparations of vegetable origin. When you're importing or selling chicory, you need to use the HSN code 7052 for all transactions.
Now that you know the GST rates and HSN code for chicory, you can ensure that your business is compliant with Indian tax laws. Understanding the taxation rules for your products is essential to avoid any legal issues or penalties.
As a business owner, it's crucial to keep yourself updated on the latest GST rates and HSN codes for your products. Make sure that you're always following the guidelines set by the Indian government to avoid any legal complications.
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