As a small or medium business owner or a startup founder, you need to be familiar with GST rates and HSN codes to ensure that you stay compliant with the law. In this blog post, we'll explain everything you need to know about DEGRAS, including the GST rates and HSN code for this product.
DEGRAS is a type of oil that is used in various industries, including printing, textiles, and rubber. It is commonly used as a lubricant, release agent, and anti-static agent. DEGRAS is a trademark of Peter Greven Physioderm GmbH, a German company that specializes in the production of high-quality oils and waxes.
DEGRAS is classified under the Harmonized System of Nomenclature (HSN) code 1522. The GST rate for DEGRAS is 18%.
If you purchase DEGRAS for business purposes, you can claim the input tax credit on the GST paid on it. Input tax credit means that you can reduce your GST liability by the amount of GST paid on your purchases.
HSN codes are used to classify goods for taxation purposes. The HSN code for DEGRAS is 1522. This code is used for animal or vegetable fats and oils and their fractions, processed but not chemically modified, including DEGRAS.
It is important to use the correct HSN code for your products to avoid any confusion or penalties from the tax authorities. The HSN code is used to determine the GST rate applicable to your product.
DEGRAS is a versatile oil that is used in many different industries. As a business owner or startup founder, it is crucial to be aware of the GST rates and HSN codes for your products to stay compliant with the law. The GST rate for DEGRAS is 18%, and the HSN code for DEGRAS is 1522. By using the correct HSN code and paying the appropriate GST, you can avoid any penalties and ensure that your business operates smoothly.
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