As a business owner or startup founder dealing with electrical lighting equipment, it is important to understand the GST rates and HSN code associated with this category of goods. This article aims to provide detailed information on the same, helping you stay compliant with GST regulations and make informed business decisions.
HSN Code stands for Harmonized System of Nomenclature Code. It is a system of classification of goods used by the Government of India for taxation purposes, based on the harmonized system developed by the World Customs Organization. The HSN code for Electrical Lighting Equipment is 8512.
The GST rate for Electrical Lighting Equipment is 12%. However, there are certain specific products that fall under this category, and their GST rates may vary. For example, LED lights are taxed at 12%, while incandescent bulbs are taxed at 28%. It is important to understand the specific GST rates applicable to the products you deal in to ensure that you are charging and paying the correct amount of tax.
Electrical Lighting Equipment is a broad category that includes several types of products. Some of the common types of products that fall under this category are:
1. Incandescent bulbs
2. LED lights
3. Halogen lamps
4. CFL bulbs
5. Tubes and fittings
6. Lamps and lighting fixtures
Understanding the GST rates and HSN code for Electrical Lighting Equipment is crucial for business owners and startup founders dealing with these products. It helps ensure compliance with GST regulations and avoid any legal complications. Make sure to consult with a tax expert or refer to official government sources for accurate and up-to-date information on GST rates and HSN codes.
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