Ground-Nut Oil Cake- GST Rates & HSN Code 2305

Ground-Nut Oil Cake is a by-product of peanut oil extraction. It is an excellent source of protein for livestock and is used extensively as animal feed. In this article, we will be discussing the GST rates and HSN code for Ground-Nut Oil Cake.

GST Rates for Ground-Nut Oil Cake

The GST rates for Ground-Nut Oil Cake were revised in the 28th GST Council meeting held on 21st July 2018. The new GST rates for Ground-Nut Oil Cake are as follows:

HSN Code Description GST Rate2305Ground-Nut Oil Cake5%

As per the new GST rates, Ground-Nut Oil Cake attracts a 5% GST rate.

HSN Code for Ground-Nut Oil Cake

HSN stands for Harmonized System of Nomenclature. It is a 6-digit code that is used to classify goods for taxation purposes. The HSN code for Ground-Nut Oil Cake is 2305.

Key Points to Remember

Here are some key points to remember when it comes to the GST rates and HSN code for Ground-Nut Oil Cake:

Ground-Nut Oil Cake is classified under HSN code 2305.
Ground-Nut Oil Cake attracts a 5% GST rate.
It is essential to classify your products correctly to avoid any tax-related issues.

Conclusion

As a small or medium-sized business owner or startup founder in India, understanding the GST rates and HSN code for your products is crucial. In this article, we discussed the GST rates and HSN code for Ground-Nut Oil Cake. We hope this article provided you with all the necessary information on the tax implications of Ground-Nut Oil Cake.