Products of animal origin are an important part of the Indian economy. They are widely used in various industries and also for domestic consumption. The GST rate and HSN code for products of animal origin, not elsewhere specified or included, are important for small and medium business owners and startup founders who deal in these products.
The GST rate for products of animal origin, not elsewhere specified or included, is 5%. This rate is applicable to all types of products that are derived from animals and are not classified under any other category. The 5% rate is applicable to both goods and services.
The GST rate for products of animal origin was introduced in 2017 as part of the GST regime. Prior to this, there was no uniform rate for these products, and they were taxed differently in different states.
The HSN code for products of animal origin, not elsewhere specified or included, is 0508. The HSN code is a system of classification for goods that is used to determine the rate of tax applicable to them. The HSN code for products of animal origin is important for small and medium business owners and startup founders who deal in these products as it helps them to determine the tax rate applicable to their products.
The HSN code for products of animal origin includes all types of products that are derived from animals and are not classified under any other category. This includes products such as feathers, hair, and animal wool.
Products of animal origin are widely used in various industries and also for domestic consumption. Some examples of products of animal origin are:
1. Feathers
2. Hair
3. Animal wool
4. Bovine semen
5. Lac
6. Horn and antlers
7. Ivory
These products are used in various industries such as fashion, food, and medicine.
In conclusion, the GST rate and HSN code for products of animal origin, not elsewhere specified or included, are important for small and medium business owners and startup founders who deal in these products. The 5% GST rate is applicable to all types of products that are derived from animals and are not classified under any other category. The HSN code for products of animal origin is 0508, and it includes all types of products that are derived from animals and are not classified under any other category.
Declaration of NIL, Exempted and NON-GST Values in GST Returns
GST on printing contracts of books, pamphlets, and brochures
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