Footwear Uppers of Leather - GST Rates HSN Code 6403

When it comes to footwear, there are various types of materials that can be used to create the upper portion. One of the most popular materials is leather. Leather is known for its durability, comfort, and aesthetic appeal, making it a popular choice for footwear uppers.

However, when it comes to taxation, there are specific GST rates and HSN codes that apply to footwear uppers of leather. In this article, we'll take a closer look at these rates and codes.

GST Rates for Footwear Uppers of Leather

According to the GST rates, footwear uppers of leather fall under the 18% tax bracket. This rate applies to all footwear uppers made of genuine or artificial leather, including those used for sandals, slippers, shoes, and boots.

HSN Code for Footwear Uppers of Leather

The HSN code for footwear uppers of leather is 6403. This code is used to identify and classify the product for taxation purposes. This code specifically applies to footwear uppers made of leather, including those that are not attached to soles.

It's important to note that the HSN code may vary depending on the specific type of footwear and its components. For example, if the footwear upper is made of a material other than leather, the HSN code would be different.

Impact on Small and Medium Business Owners and Startup Founders

For small and medium business owners and startup founders, understanding the GST rates and HSN codes for footwear uppers of leather is crucial. This knowledge helps them to accurately calculate taxes, file returns, and avoid any potential legal issues.

By knowing the specific HSN code and GST rate for their products, business owners can ensure that they are complying with all tax laws and regulations. This can help them avoid penalties and fines, and maintain a good reputation within the industry.

Conclusion

Footwear uppers of leather are a popular choice for many types of footwear, and are known for their durability, comfort, and aesthetic appeal. However, when it comes to taxation, there are specific GST rates and HSN codes that apply.

By understanding these rates and codes, small and medium business owners and startup founders can accurately calculate taxes, file returns, and avoid any potential legal issues. This knowledge is crucial for maintaining a good reputation within the industry and ensuring the success of their businesses.