GST rates and HSN code for Other Footwear With Rubber

As an Indian Small and Medium business owner, you must be aware of the Goods and Services Tax (GST) and the HSN code. GST is an indirect tax levied on the supply of goods and services, which has replaced the old tax system such as Value Added Tax (VAT) and Central Excise Duty. HSN or Harmonized System of Nomenclature is a six-digit code that classifies goods based on their nature, quantity, and value.

When it comes to footwear, GST has classified it into different categories based on its material, usage, and design. In this article, we will be discussing Other Footwear With Rubber and its GST rates and HSN code.

Overview of Other Footwear With Rubber

As the name suggests, Other Footwear With Rubber includes any footwear that has a rubber sole or any rubber component in it, other than those classified under other categories. It can include sports shoes, casual shoes, sneakers, and other similar footwear.

GST Rates for Other Footwear With Rubber

In India, GST for footwear is classified under four different tax slabs – 0%, 5%, 12%, and 18%. The GST rate for Other Footwear With Rubber is 18% which is the highest tax slab for footwear. It means that any purchase of Other Footwear With Rubber will attract a GST of 18%.

HSN Code for Other Footwear With Rubber

The HSN code for Other Footwear With Rubber is 6402. This six-digit code is used to classify Other Footwear With Rubber based on their nature, quantity, and value. It is necessary to mention the HSN code for Other Footwear With Rubber while filing GST returns or while sending any shipment outside India.

Conclusion

As an Indian Small and Medium business owner, it is essential to know the GST rates and HSN code for the goods you deal with. Knowing the correct GST rates and HSN code can help you avoid any penalty or legal issues. It is also important to keep yourself updated with any changes in the tax system to ensure smooth business operations.

We hope this article has provided you with a better understanding of Other Footwear With Rubber's GST rates and HSN code.