GRANULATED SLAG - GST RATES HSN CODE 2618 || GST rates and HSN code for Granulated Slag

Granulated slag is a byproduct of the manufacturing process of iron and steel. It is an environmentally friendly material that is widely used in construction and infrastructure projects. Granulated slag is a valuable resource that is used to replace traditional construction materials such as sand and gravel. It is a sustainable and cost-effective alternative that can reduce the environmental impact of construction projects.

As with any product, granulated slag is subject to GST rates and HSN codes. The GST rates and HSN code for granulated slag have been determined by the Indian government and are applicable to all businesses that deal with this product.

GST Rates for Granulated Slag

The GST rates for granulated slag are determined by the Indian government and are based on the type and use of the product. The current GST rate for granulated slag is 5%. This rate is applicable to all products that contain granulated slag, including construction materials, industrial products, and other applications.

The GST rate of 5% is a significant reduction from the earlier rate of 18%. This reduction is part of the government's efforts to promote sustainable and environmentally friendly construction materials.

HSN Code for Granulated Slag

The HSN code for granulated slag is 2618. This code is used to identify granulated slag as a separate product from other iron and steel products. The HSN code allows businesses to accurately identify and classify their products for tax purposes.

The HSN code for granulated slag is applicable to all businesses that deal with this product. It is important for businesses to accurately identify the HSN code for their products to ensure compliance with GST regulations.

Conclusion

Granulated slag is a valuable resource that is widely used in construction and infrastructure projects. It is a sustainable and cost-effective alternative to traditional construction materials. The GST rates and HSN code for granulated slag have been determined by the Indian government and are applicable to all businesses that deal with this product.

Businesses should ensure that they accurately identify the HSN code for their products and comply with GST regulations to avoid any penalties or legal issues. The government's efforts to promote sustainable and environmentally friendly construction materials are commendable, and the reduction in GST rates for granulated slag is a step in the right direction.