India is a country of diverse cultures, traditions, and cuisines. One of the most popular food items in India is fish. Fish is consumed in various forms such as fried, curried, roasted, and grilled. It is not only tasty but also comes with numerous health benefits. For small and medium business owners dealing in fish, it is essential to understand the GST rates and HSN code for fresh and chilled fish.
The GST rates for fresh and chilled fish are different based on the type of fish. The GST rate for fresh and chilled fish is 0% for the following:
For other types of fresh and chilled fish, the GST rate is 5%. This includes fish such as catfish, pangasius, shad, and rohu.
The Harmonized System of Nomenclature (HSN) code is a globally recognized system for classifying goods. The HSN code for fresh and chilled fish is 0302. This code is used to identify the type of fish and is required for GST registration and compliance.
It is important for small and medium business owners dealing in fish to have a clear understanding of the HSN code for fresh and chilled fish. This will help them to file GST returns accurately and avoid any penalties for non-compliance.
Understanding the GST rates and HSN code for fresh and chilled fish is crucial for small and medium business owners in the fish industry. It is important to stay up-to-date with any changes in the GST rates and HSN codes and comply with the regulations to avoid any penalties. Fish is an essential part of the Indian cuisine and has a significant impact on the economy. Knowing the GST rates and HSN code for fresh and chilled fish is an important step towards the growth and success of any business in this industry.
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