GST Rates and HSN Code for Men's Underpants and Briefs in India

When it comes to men's fashion, one of the most overlooked but essential items is the humble underpant. Men's underpants or briefs are a staple in any man's wardrobe, and they come in various styles and designs to suit different preferences. However, as a business owner, it's important to understand the GST rates and HSN code for men's underpants and briefs to ensure compliance with Indian laws.

GST Rates for Men's Underpants and Briefs

The Goods and Services Tax (GST) is a comprehensive tax system that replaced the old indirect tax structure in India. It's a value-added tax system that's levied on the supply of goods and services. The GST Council has classified goods and services into various tax slabs, ranging from 0% to 28%, depending on their nature, use, and demand.

For men's underpants and briefs, the GST rate is 5%. This means that if you're a manufacturer or dealer of men's underpants and briefs, you're required to charge 5% GST on the sale of these products. As a business owner, you must also register for GST and file regular returns to comply with Indian tax laws.

HSN Code for Men's Underpants and Briefs

The Harmonized System of Nomenclature (HSN) is an internationally recognized system of names and numbers that's used to classify goods in international trade. In India, the HSN code is used to classify goods for GST purposes. Each product has a unique HSN code, which helps in the identification and classification of goods for taxation purposes.

The HSN code for men's underpants and briefs is 6107. This code is used to identify and classify men's underpants and briefs for GST purposes, and it's important to use the correct code while filing GST returns.

Conclusion

As a business owner or manufacturer of men's underpants and briefs, it's essential to understand the GST rates and HSN code for these products to ensure compliance with Indian tax laws. The GST rate for men's underpants and briefs is 5%, and the HSN code for these products is 6107. By understanding these factors, you can avoid penalties and fines for non-compliance and ensure the smooth operation of your business.