India is one of the largest producers of oilseeds and oleaginous fruits in the world. These commodities are widely used in various industries, including the food, pharmaceutical, and cosmetic industries. As a business owner dealing with these commodities, it is essential to understand the GST rates and HSN code applicable to them.
Other Oil Seeds and Oleaginous Fruits are defined under HSN code 1207. This HSN code covers a wide range of commodities that are used for their oil content. Some of the commodities covered under this HSN code include:
The GST rates for Other Oil Seeds and Oleaginous Fruits vary depending on the commodity. The GST rates are as follows:
CommodityHSN CodeGST RateSesame seeds1207 40 105%Mustard seeds1207 50 105%Safflower seeds1207 60 105%Linseed1207 70 105%Castor seeds1207 91 105%Cotton seeds1207 99 105%Sunflower seeds1207 50 905%Groundnuts1207 40 205%Palm nuts and kernels1207 99 905%Coconuts1207 41 000%Almonds1207 21 005%Walnuts1207 29 005%Cashew nuts0801 32 405%
Note that the GST rates for these commodities are subject to change. It is recommended to check the latest GST rates before filing your GST returns.
The HSN code for Other Oil Seeds and Oleaginous Fruits is 1207. This HSN code is further divided into subcategories based on the commodity. The subcategories and their HSN codes are as follows:
It is important to use the correct HSN code when filing your GST returns. Using the wrong HSN code can lead to penalties and fines.
Understanding the GST rates and HSN code for Other Oil Seeds and Oleaginous Fruits is crucial for business owners dealing with these commodities. The GST rates for these commodities vary depending on the commodity, and it is essential to check the latest rates before filing your GST returns. Additionally, using the correct HSN code is necessary to avoid penalties and fines.
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