GST Rates and HSN Code for Lead Bars, Rods And Wire

Lead is a heavy, ductile, and malleable metal that is commonly used in various industrial applications. It is also used in the production of batteries, ammunition, and radiation shielding. If you are a small or medium-sized business owner or a startup founder dealing with lead bars, rods, and wire, you would need to know the GST rates and HSN code for the same in order to comply with the Indian taxation laws. In this article, we will discuss the GST rates and HSN code for lead bars, rods, and wire.

GST Rates for Lead Bars, Rods And Wire

The GST rate applicable on lead bars, rods, and wire is 18%. This is the same rate that is applicable on most of the other metals such as copper, nickel, and zinc. However, the GST rates may change from time to time as per the decisions taken by the GST Council.

HSN Code for Lead Bars, Rods And Wire

The HSN code for lead bars, rods, and wire is 7803. The HSN code is a 6-digit code that is used to classify goods under the GST regime. It is a standardized system that is used globally to identify and classify goods and services for taxation purposes.

The HSN code for lead bars, rods, and wire falls under Chapter 78 of the GST tariff. This chapter covers articles of copper, nickel, aluminum, lead, zinc, tin, and other base metals. The HSN code for lead bars, rods, and wire is further sub-divided into the following:

1. 7803 10 - Lead plates, sheets, strip, and foil

2. 7803 90 - Other

The HSN code for lead bars, rods, and wire falls under the 7803 90 category. This category covers all other lead articles not specifically covered under the 7803 10 category. The HSN code is a crucial element in the GST system, and businesses must ensure that they classify their goods correctly under the applicable HSN code.

Conclusion

As a small or medium-sized business owner or a startup founder dealing with lead bars, rods, and wire, you must be aware of the GST rates and HSN code for the same. The GST rate applicable on lead bars, rods, and wire is 18%, and the HSN code is 7803. By ensuring that you comply with the Indian taxation laws, you can avoid any penalties or legal consequences that may arise due to non-compliance.