Aluminum and its articles are widely used across industries, including construction, packaging, transportation, and electrical manufacturing. As a result, understanding the GST rates and HSN codes associated with these products is crucial for small and medium business owners and startup founders in India. In this article, we will provide details on GST rates and HSN codes for aluminum and its products, along with some key information on the material and its uses.
Aluminum is a lightweight, silvery-white, soft, and ductile metal. It is found in over 270 minerals, making it the most abundant metal in the Earth's crust. It has a wide range of uses due to its unique properties, including high strength-to-weight ratio, excellent corrosion resistance, and high thermal and electrical conductivity.
Some of the common applications of aluminum and its products include:
Aluminum is used in roofing, doors, windows, and facades due to its lightweight and durability.
Aluminum is used in cars, buses, and trains due to its low weight and high strength.
Aluminum is used in foils, cans, and containers due to its excellent barrier properties and malleability.
Aluminum is used in power transmission lines and electrical cables due to its high electrical conductivity.
The GST rate for aluminum and articles thereof is 18%. This rate is applicable to all goods falling under Chapter 76 of the GST tariff schedule. Some of the products covered under this chapter include:
1. Plates, sheets, and strips of aluminum
2. Bars, rods, and profiles of aluminium
3. Tubes and pipes of aluminum
4. Wire of aluminum
5. Foil of aluminum
6. Articles of aluminum, including doors, windows, and frames, and furniture
HSN stands for Harmonized System of Nomenclature, and it is an internationally accepted system of names and numbers for classifying traded goods. In India, HSN codes are used to classify goods for taxation purposes.
The HSN code for aluminium and articles thereof is 7601. This code is applicable to all goods falling under Chapter 76 of the GST tariff schedule. It is important to note that HSN codes may vary based on the specific type of product, so it is essential to check the HSN code for each individual product.
Understanding the GST rates and HSN codes for aluminium and its products is crucial for small and medium business owners and startup founders in India. With the information provided in this article, you should now have a better understanding of the GST rates and HSN codes associated with this versatile material. Make sure to keep this information handy for reference when dealing with aluminium and its products.
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