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Published on:
February 25, 2023
By
Paramita

Electric Accumulators - GST Rates and HSN Code (8507) for Indian Businesses and Startups

Electric accumulators are an essential component of many electrical devices, including electric vehicles, solar power systems, and home energy storage systems. As an Indian business owner or startup founder, it is crucial to understand the GST rates and HSN code for electric accumulators to ensure that you remain compliant with the law.

In this article, we will explain everything you need to know about electric accumulators, including their definition, types, and applications. We will also delve into the GST rates and HSN code for electric accumulators in India and discuss how they affect your business.

What are Electric Accumulators?

Electric accumulators, also known as batteries, are devices that store electrical energy in chemical form and convert it back into electrical energy when needed. They consist of one or more cells, each containing a positive electrode, a negative electrode, and an electrolyte. When the electrodes are connected to an electrical circuit, the chemical reaction between them produces electrical energy, which is stored in the cells.

Electric accumulators are used in a wide range of applications, including:

• Electric vehicles

• Solar power systems

• Home energy storage systems

• Portable electronic devices, such as smartphones and laptops

• Medical devices, such as pacemakers

• Emergency lighting systems

• UPS (Uninterruptible Power Supply) systems

Types of Electric Accumulators

There are several types of electric accumulators, including:

• Lead-acid batteries: This is the most common type of battery, used in automobiles, motorcycles, and other applications.

• Lithium-ion batteries: This type of battery is used in electric vehicles, portable electronic devices, and home energy storage systems.

• Nickel-cadmium batteries: This type of battery is used in emergency lighting systems and UPS systems.

• Nickel-metal hydride batteries: This type of battery is used in portable electronic devices, such as cameras and toys.

GST Rates and HSN Code for Electric Accumulators

The GST rates and HSN code for electric accumulators are as follows:

• GST Rate: 18%

• HSN Code: 8507

It is important to note that the GST rate for electric accumulators is the same for all types of batteries, regardless of their chemical composition or application. This means that if you sell electric accumulators, you must charge 18% GST on the sale price.

If you import electric accumulators into India, you must pay customs duty based on the value of the goods. The customs duty rates for electric accumulators vary depending on the country of origin, type of battery, and other factors.ConclusionIn conclusion, as an Indian business owner or startup founder, it is essential to understand the GST rates and HSN code for electric accumulators to ensure that you remain compliant with the law. Electric accumulators are an integral part of many electrical devices, and their applications are only set to grow in the future. By knowing the GST rates and HSN code for electric accumulators, you can ensure that your business is on the right side of the law and avoid any legal issues that may arise.

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