Electrical capacitors are an essential component in many electronic devices. They store electric charge and are used in circuits to filter out unwanted noise and voltage spikes. In India, electrical capacitors are subject to GST, with a specific HSN code for each type of capacitor.
The GST tax rate for electrical capacitors depends on the type of capacitor and its value. Here are the GST rates for different types of electrical capacitors:
1. Fixed capacitors (including power capacitors): 18%
2. Variable capacitors (including tuning capacitors): 28%
3. Other capacitors: 28%
It is important to note that these rates include both the Central GST (CGST) and the State GST (SGST) components. Therefore, the total GST rate for electrical capacitors is 18% or 28%, depending on the type of capacitor.
In addition to the GST rate, electrical capacitors are also identified by a specific HSN code. HSN stands for Harmonized System of Nomenclature, and it is used to classify goods for taxation purposes.
The HSN code for electrical capacitors is 8532. This HSN code is applicable to all types of electrical capacitors, including fixed, variable, and other capacitors.
In conclusion, electrical capacitors are subject to GST in India, with a specific GST rate and HSN code for each type of capacitor. Business owners and startup founders who deal with electrical capacitors should be aware of these rates and codes to ensure compliance with GST regulations.
Goods and Services Tax (GST): An Overview
Rate of GST on Works Contract Services in India
Mandatory Furnishing of Correct Ineligible ITC Reversal Thereof in Form GSTR-3B