New
Published on:
February 25, 2023
By
Pranjal Gupta

GST Rates and HSN Code for Live Plants, Cuttings, Slips, Mushroom Spawn

Live plants, cuttings, slips, and mushroom spawn are essential for agriculture and horticulture businesses. These products are subjected to GST (Goods and Services Tax) in India. GST is a value-added tax that is levied on the supply of goods and services. GST rates and HSN (Harmonized System of Nomenclature) code for live plants, cuttings, slips, and mushroom spawn are crucial for businesses to determine the tax liability. In this article, we will discuss the GST rates and HSN code for live plants, cuttings, slips, and mushroom spawn in detail.

GST Rates for Live Plants, Cuttings, Slips, and Mushroom Spawn

Live plants, cuttings, slips, and mushroom spawn are classified under HSN code 0602. The GST rates for these products are as follows:

  1. Live Plants (including their roots), Cuttings, and Slips: 5%
  2. Mushroom Spawn: 12%

It is important to note that the GST rates on live plants, cuttings, slips, and mushroom spawn are subject to change as per the government's regulations.

HSN Code for Live Plants, Cuttings, Slips, and Mushroom Spawn

HSN codes are used to classify goods and services for taxation purposes. The HSN code for live plants, cuttings, slips, and mushroom spawn is 0602. This HSN code is applicable to all businesses engaged in the trade of these products.

Understanding Live Plants, Cuttings, Slips, and Mushroom Spawn

Live plants refer to plants that are living and growing in soil or other medium. Cuttings and slips are parts of a plant used to propagate new plants. Mushroom spawn is the vegetative growth of the mushroom fungus, used to grow mushrooms for consumption.

Live plants, cuttings, slips, and mushroom spawn have different GST rates due to their specific usage and value in agriculture and horticulture businesses. Mushroom spawn is taxed at a higher rate due to its higher value and usage in commercial production.

Conclusion

Live plants, cuttings, slips, and mushroom spawn are crucial products for agriculture and horticulture businesses. Understanding the GST rates and HSN code for these products is essential for businesses to determine their tax liability. The GST rates for live plants, cuttings, and slips are 5%, while mushroom spawn is taxed at 12%. The HSN code for these products is 0602. It is important to stay updated with the government's regulations regarding GST rates and HSN codes for these products.

Suggestions



E-Pathshala: Online Learning Benefits and Features
Principal Place of Business, Proper Officer, and Services under Model GST Law in India
Extracts, Essences, Concentrates, Coffee, Tea, Mate - GST Rates HSN Code 2101

Updated on:
March 16, 2024