GST Rate HSN Code for Cocoa and Cocoa Preparations - Chapter 18

For Indian SMEs and startup founders, understanding the GST rate and HSN code for copper and articles thereof - Chapter 74 is crucial. Copper is a commonly used metal in various industries, including construction, electrical, and electronics. Therefore, having clarity on the GST rate and HSN code for copper and its articles is crucial for businesses dealing with copper products.

Understanding HSN Code for Copper and Articles Thereof - Chapter 74

HSN Code stands for the Harmonized System of Nomenclature code. The HSN code is a six-digit code that identifies the goods and services under GST. The HSN code for copper and articles thereof - Chapter 74 is 7401 to 7413.

The following are the HSN codes for copper and articles thereof:

1. 7401 - Copper mattes; cement copper (precipitated copper)

2. 7402 - Unrefined copper; copper anodes for electrolytic refining

3. 7403 - Refined copper and copper alloys, unwrought

4. 7404 - Copper waste and scrap

5. 7405 - Master alloys of copper

6. 7406 - Copper powders and flakes

7. 7407 - Copper bars, rods and profiles

8. 7408 - Copper wire

9. 7409 - Copper plates, sheets and strip, of a thickness exceeding 0.15 mm

10. 7410 - Copper foil (whether or not printed or backed with paper, paperboard, plastics or similar backing materials) of a thickness (excluding any backing) not exceeding 0.15 mm

11. 7411 - Copper tubes and pipes

12. 7412 - Copper tube or pipe fittings (for example, couplings, elbows, sleeves)

13. 7413 - Stranded wire, cables, plaited bands and the like, of copper; electrically insulated wires and cables of copper

GST Rate for Copper and Articles Thereof - Chapter 74

The GST rate for copper and its articles varies depending on the nature of the product. The GST rates for copper and articles thereof Chapter 74 are as follows:

HSN Code Product Description GST Rate 7401, 7402 Copper matte, cement copper, and unrefined copper 18%7403 Refined copper and copper alloys, unwrought 18%7404 Copper waste and scrap 5%7405, 7406 Master alloys of copper, copper powders and flakes 18%7407 Copper bars, rods, and profiles 18% 7408 Copper wire 18% 7409, 7410 Copper plates, sheets, and strip, copper foil 18%7411, 7412 Copper tubes, pipes, and fittings 18%7413 Stranded wire, cables, plaited bands, and electrically insulated wires and cables of copper 18%

It is essential to stay updated with the GST rates for copper and its articles to avoid any incorrect tax calculations and penalties.

Conclusion

Understanding the HSN code and GST rate for copper and its articles is crucial for businesses dealing with copper products. The HSN code for copper and articles thereof - Chapter 74 is 7401 to 7413, while the GST rate for copper and its articles ranges from 5% to 18%, depending on the nature of the product. Business owners and startup founders need to stay updated with the GST rates and HSN codes to ensure accurate tax calculations and avoid any penalties.