Clock Movements - GST Rates HSN Code 9109

When it comes to clock movements, there are a few important things that you should know if you are a small and medium business owner or a startup founder in India. One of these things is the GST rates and HSN code that apply to clock movements. In this article, we will take a closer look at these rates and codes so that you can make informed decisions for your business.

What are Clock Movements?

Clock movements are essentially the inner workings of a clock. They are what make the hands move and the clock tick. There are a few different types of clock movements, including mechanical, quartz, and atomic. Mechanical movements are the oldest type and use a series of gears to keep time. Quartz movements are more modern and use a battery-powered oscillator to keep time. Atomic movements are the most accurate, using a radio signal to synchronize with an atomic clock.

GST Rates for Clock Movements

As of August 2021, the GST rate for clock movements is 18%. This rate applies to all types of clock movements, including mechanical, quartz, and atomic. It is important to note that the GST rate may change over time, so it is always a good idea to check the latest rates before making any purchases or sales.

HSN Code for Clock Movements

The HSN code for clock movements is 9109. This code is used to classify goods for taxation purposes, and it specifically refers to clocks and watch movements, including clock movements for alarm clocks, wall clocks, and other timepieces. If you are a small and medium business owner or a startup founder in India, it is important to use the correct HSN code when filing your taxes to avoid any penalties or fines.

Conclusion

In conclusion, clock movements are an important component of clocks and timepieces, and if you are a small and medium business owner or a startup founder in India, it is important to be aware of the GST rates and HSN code that apply to these products. As of August 2021, clock movements are subject to a GST rate of 18% and fall under the HSN code 9109. By staying informed about these rates and codes, you can make informed decisions for your business and avoid any unnecessary penalties or fines.