Goods and Services Tax (GST) is an indirect tax levied on the supply of goods and services in India. The GST system has replaced a number of indirect taxes previously levied by the central and state governments, thereby simplifying the tax structure. The GST is divided into several chapters, and each chapter is assigned a unique HSN code. In this article, we will discuss the GST rate and HSN code for Chapter 26 - Ores, slag, and ash.
Chapter 26 of the GST system deals with ores, slag, and ash. This chapter includes materials such as iron ore, copper ore, nickel ore, aluminum ore, and more. It also includes slag and ash from the production of these materials.
The GST rate for ores, slag, and ash is 5%. This is the same rate as for most other raw materials. However, there are a few exceptions to this rate, which we will discuss below.
The GST rate for iron ore is 5%. However, there is an additional GST compensation cess of 30% on top of this rate. This means that the total GST rate for iron ore is 6.5%.
Coal and lignite are not included in Chapter 26. Instead, they fall under Chapter 27. The GST rate for coal and lignite is 5%, with an additional GST compensation cess of 1%.
Radioactive ores and concentrates are not included in Chapter 26. Instead, they fall under Chapter 28. The GST rate for radioactive ores and concentrates is 18%, with an additional GST compensation cess of 12%.
The HSN code for ores, slag, and ash is 2601. This code covers all the materials included in Chapter 26.
Business owners who deal with ores, slag, and ash need to be aware of the GST rate and HSN code for these materials. The GST rate for most materials in Chapter 26 is 5%. However, there are a few exceptions to this rate, and it's important to be aware of these exceptions. The HSN code for ores, slag, and ash is 2601. By understanding these rates and codes, business owners can ensure compliance with the GST system and avoid any penalties or fines.
CUTTLE FISH SQUID - GST RATES HSN CODE 3074
Woven Fabrics Of Synthetic Staple Fibre Mixed Cotton
CHEMICAL ELEMENTS ELECTRONICS - GST RATES HSN CODE 3818
