As a small or medium business owner or startup founder in India, understanding the GST rates and HSN code for your products is crucial. In this article, we will take a closer look at densified wood and its GST rates and HSN code.
Densified wood is a type of engineered wood product that is manufactured by compressing wood fibers and then bonding them together with resin. The result is a product that is denser and stronger than untreated wood.
Densified wood is commonly used in a wide range of applications, including furniture, flooring, and construction materials.
Under the GST system, densified wood is classified as a product under the Harmonized System of Nomenclature (HSN) code 4413. This code covers all types of densified wood, including blocks, plates, strips, and profile shapes.
The GST rates for densified wood are as follows:
1. 18% GST for densified wood in blocks, plates, and strips
2. 28% GST for densified wood in the form of profile shapes
It is important to note that these rates are subject to change, so it is always a good idea to keep up-to-date with the latest GST rates and regulations.
The HSN code for densified wood is 4413. This code covers all types of densified wood, including blocks, plates, strips, and profile shapes.
When listing densified wood as a product, it is important to include the correct HSN code to avoid any confusion or issues with tax authorities.
Understanding the GST rates and HSN code for your products is crucial as a small or medium business owner or startup founder in India. Densified wood falls under HSN code 4413 and is subject to a GST rate of either 18% or 28%, depending on the form in which it is sold.
By keeping up-to-date with the latest GST rates and regulations, you can ensure that your business stays compliant and avoids any unnecessary fines or penalties.
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