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Published on:
February 25, 2023
By
Harshini

GST Rate  HSN Code for Preparations of Vegetables, Fruit, Nuts or Other Parts of Plants - Chapter 20

As an Indian business owner or startup founder, understanding the Goods and Services Tax (GST) system is crucial for smooth operations. GST rates and HSN codes are essential for determining the taxes applicable to your products or services. In this article, we'll delve into the GST rate and HSN code for preparations of vegetables, fruit, nuts, or other parts of plants in Chapter 20.

What is GST?

GST is a single tax system that replaced multiple taxes like excise duty, VAT, and service tax. It is levied on the supply of goods and services and has helped streamline India's indirect tax system. GST rates vary according to the product or service, with four slabs - 5%, 12%, 18%, and 28%. Additionally, some products and services attract a cess, which is an additional tax on top of the GST rate.

What is HSN?

HSN stands for Harmonized System of Nomenclature. It is a six-digit code used to classify goods worldwide, making trade easier by ensuring consistent classification across countries. HSN codes are used to determine the GST rate applicable to a product or service.

GST Rate  HSN Code for Preparations of Vegetables, Fruit, Nuts or Other Parts of Plants

Chapter 20 of the GST tariff deals with preparations of vegetables, fruit, nuts, or other parts of plants. It includes products like pickles, chutneys, jams, and jellies. The GST rate for these products is 12%. The HSN code for preparations of vegetables, fruit, nuts, or other parts of plants is 2001.

Exceptions to the 12% GST Rate

There are some exceptions to the 12% GST rate for preparations of vegetables, fruit, nuts, or other parts of plants. These include:

1. Frozen fruits and nuts - 5% GST with no cess

2. Roasted cashew nuts - 5% GST with no cess

3. Coconut shell - 5% GST with no cess

4. Dried tamarind - 5% GST with no cess

5. Dried leguminous vegetables - 5% GST with no cess

6. Custard powder - 18% GST with no cess

Conclusion

Understanding GST rates and HSN codes is vital for Indian business owners and startup founders. Preparations of vegetables, fruit, nuts, or other parts of plants in Chapter 20 attract a 12% GST rate, with a few exceptions. The HSN code for these products is 2001. Ensure you classify your products correctly to avoid any issues with the tax authorities.

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Updated on:
March 16, 2024