COKE SEMI COKE COAL - GST RATES HSN CODE 2704

As a small and medium business owner or startup founder in India, it is important to understand the GST rates and HSN code for the products you deal with. In this article, we will be discussing the GST rates and HSN code for Coke and Semi-Coke Coal, which falls under HSN Code 2704.

What is Coke and Semi-Coke Coal?

Coke and semi-coke coal are types of coal that are used as fuel for various industries. Coke is a solid carbonaceous residue derived from coking coal, while semi-coke coal is a partially carbonized coal with a high content of volatile matter. Both coke and semi-coke coal are used for fuel and as a reducing agent in smelting iron ore in the steel production process.

GST Rates for Coke and Semi-Coke Coal

As per the GST council, the GST rates for Coke and Semi-Coke Coal is 5%. This rate is applicable to both coke and semi-coke coal, irrespective of their grade or quality. However, it is important to note that this rate is subject to change as per the GST council's regulations.

HSN Code for Coke and Semi-Coke Coal

The HSN code for Coke and Semi-Coke Coal is 2704. This code is used to classify coke and semi-coke coal for taxation purposes. It is important to mention this code in your invoices and other documents to avoid any confusion or errors.

Conclusion

In conclusion, as a small and medium business owner or startup founder in India, it is important to understand the GST rates and HSN code for the products you deal with. Coke and Semi-Coke Coal falls under HSN Code 2704, and the GST rate for these products is 5%. By understanding these regulations, you can ensure that you are compliant with the GST council's regulations and avoid any penalties or fines.