Are you a business owner dealing in the manufacturing or trading of sugar and sugar confectionery products in India? If yes, then you must be aware of the GST rates and HSN codes applicable to your products. In this article, we will discuss in detail the GST rates and HSN codes for sugars and sugar confectionery under Chapter 17 of the GST Classification.
GST or Goods and Services Tax is a comprehensive tax system that has been implemented in India since July 1, 2017. It is a single tax system that has replaced all the indirect taxes like VAT, excise duty, service tax, and others. GST has been classified into four tax brackets - 5%, 12%, 18%, and 28%.
Chapter 17 of the GST Classification pertains to sugar and sugar confectionery products. It includes all the products made from sugar, molasses, and other sweeteners. This chapter also includes products like candies, toffees, chewing gums, and other similar products.
The GST rates for sugars and sugar confectionery products have been fixed at 18%. This rate is applicable to all the products that fall under Chapter 17 of the GST Classification.
The Harmonized System of Nomenclature or HSN Code is a code system that is used to classify goods and products for taxation purposes. The HSN code for sugars and sugar confectionery products is 1704. This code is applicable to all the products that fall under Chapter 17 of the GST Classification.
Here is a list of some of the popular sugar and sugar confectionery products and their respective HSN codes:
Product HSN CodeSugar1701Cane Sugar1701Beet sugar1701Molasses1703Candies1704Toffees1704Chewing Gums1704Confectionery products1704
Now that you are aware of the GST rates and HSN codes applicable to sugars and sugar confectionery products, you can take necessary steps to ensure compliance with the GST regulations. It is important to stay updated with the latest changes and updates in the GST system to avoid any penalties or legal issues.
Section 194A of the income tax act
PRAGATI – Providing Assistance for Girls’ Advancement in Technical Education Initiative
Registration under Goods and Services Tax (GST) law