Braids are a popular hairstyle that has been around for centuries. In India, braids are not just a style statement but also have cultural significance. With the introduction of GST in India, it has become necessary for small and medium businesses to understand the GST rates and HSN code for braids. In this article, we will provide a comprehensive guide on the same.
A braid is a type of hairstyle that involves interweaving three or more strands of hair. Braids are versatile and can be worn in different styles, from casual to formal. In India, braids are commonly worn by women and children.
GST or Goods and Services Tax is an indirect tax levied on the supply of goods and services. GST is a single tax that has replaced multiple indirect taxes such as excise duty, VAT, and service tax.
The GST rates for braids are as follows:
As per the GST law, the HSN code for braids is 5808. The GST rate applicable for braids in the piece is 5%.
HSN or Harmonized System of Nomenclature is an internationally accepted system of names and numbers used to classify traded products. HSN code for a product is a numeric code that identifies the product and its attributes.
The HSN code for braids is 5808. The HSN code for braids in the piece is also 5808. The HSN code for braids is important for businesses as it helps in the identification and classification of the product for the purposes of taxation and trade.
Understanding the GST rates and HSN code for braids is important for small and medium businesses. The GST rate for braids in the piece is 5% and the HSN code for braids is 5808. We hope this comprehensive guide has helped you understand the same.
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