India’s GST tax regime has significantly impacted the manufacturing and trading of goods across the country. This has led to an increase in the compliance burden for businesses. Therefore, it’s important to know the GST rates and HSN codes applicable for specific goods or services.
HSN (Harmonized System of Nomenclature) is a globally accepted system of names and numbers to classify goods. The HSN code is used to identify the goods and services that are sold in India. It is a 6 to 8 digit code that is assigned to goods based on their nature, function, and usage.
GST (Goods and Services Tax) is a value-added tax levied on the supply of goods and services. The GST rate is the percentage at which GST is levied on a specific good or service. GST rates are determined by the GST Council and are based on the HSN code of the goods or services.
Chapter 88 of the GST Tariff covers aircraft, spacecraft, and parts thereof. This chapter is divided into the following headings:
1. 8801: Balloons and dirigibles; gliders, hang gliders, and other non-powered aircraft
2. 8802: Aircraft powered by jet propulsion engines
3. 8803: Other aircraft (for example, helicopters, airplanes, and space vehicles)
4. 8804: Parachutes (including dirigible parachutes and paragliders) and rotochutes; parts thereof and accessories thereof
5. 8805: Aircraft launching gear and parts thereof; deck-arrestor or similar gear and parts thereof; ground flying trainers and parts thereof
6. 8806: Parts of goods of headings 8801 or 8802
7. 8807: Parts of goods of heading 8803
The GST rates and HSN codes for aircraft, spacecraft, and parts thereof are as follows:
HSN Code Description GST Rate8801Balloons and dirigibles; gliders, hang gliders, and other non-powered aircraft18%8802Aircraft powered by jet propulsion engines5%8803Other aircraft (for example, helicopters, airplanes, and space vehicles)5%8804Parachutes (including dirigible parachutes and paragliders) and rotochutes; parts thereof and accessories thereof18%8805Aircraft launching gear and parts thereof; deck-arrestor or similar gear and parts thereof; ground flying trainers and parts thereof18%8806Parts of goods of headings 8801 or 880218%8807Parts of goods of heading 880318%
Note: The above GST rates are subject to change as per the GST Council’s notifications. Businesses should regularly check the updates on the GST portal to stay updated with the changes.
Knowing the GST rates and HSN codes applicable to your business operations is essential to maintain compliance with the GST regime. This article provides the GST rates and HSN codes for aircraft, spacecraft, and their parts as per Chapter 88 of the GST Tariff. It will help Small and Medium business owners and Startup founders who are involved in the manufacturing or trading of aircraft and spacecraft to stay updated with the GST rates and HSN codes applicable to them.
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