As a small or medium business owner, it's important to be aware of the GST rates and HSN codes for the products you deal in. In this article, we'll be discussing the GST rates and HSN code for glass beads and imitation pearls, which fall under the category of 7018 in the GST regime.
Glass beads are small, spherical beads made from glass. They are commonly used in jewelry-making, embroidery, and other decorative applications. Glass beads are available in a wide range of colors, shapes, and sizes, and are relatively inexpensive compared to other types of beads.
Imitation pearls are synthetic pearls made from materials like glass, plastic, or ceramic. They are designed to look like real pearls, but are much more affordable. Imitation pearls are commonly used in jewelry-making, clothing accessories, and home decor items.
The GST rate for glass beads and imitation pearls is 18%. This rate applies to both the sale and purchase of these items.
The HSN code for glass beads and imitation pearls is 7018. This code falls under the category of "Glass and Glassware" in the GST regime.
It's important to note that the HSN code and GST rate for a particular product can vary depending on its specific properties and intended use. If you are unsure about the HSN code or GST rate for a product you deal in, it's best to consult with a tax professional.
Now that you know the GST rates and HSN code for glass beads and imitation pearls, you can ensure that your business is in compliance with the law. By staying up-to-date on these regulations, you can avoid any potential penalties or fines and keep your business running smoothly.
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