GST Rates and HSN Code for Padlocks and Locks

Padlocks and locks are essential security tools that are used to protect valuables from theft, damage, or unauthorized access. These security tools come in various shapes and sizes, and are used for different applications, including securing doors, windows, cabinets, and luggage. In this article, we'll discuss GST rates and HSN code for padlocks and locks.

What are padlocks and locks?

Padlocks and locks are security devices that are designed to restrict access to a particular object or space. Padlocks are typically used to secure gates, fences, storage units, and other similar applications. They consist of a metal body, a shackle, and a locking mechanism. Locks are used to secure doors, windows, cabinets, and other similar applications. They consist of a metal body, a bolt, and a locking mechanism. Both padlocks and locks come in different sizes and designs, and can be operated with a key or a combination.

GST rates and HSN code for padlocks and locks

The GST rate for padlocks and locks is 18%. The HSN code for padlocks and locks is 8301.

How to calculate GST on padlocks and locks?

The GST on padlocks and locks is calculated as follows:

Price of the padlock/lock + GST @ 18% = Total Price

For example, if the price of a padlock is Rs. 100, the GST on the padlock would be Rs. 18. Therefore, the total price of the padlock would be Rs. 118.

Exemptions and exceptions

There are no exemptions or exceptions for GST on padlocks and locks.

Conclusion

Padlocks and locks are essential security devices that are used to protect valuables from theft, damage, or unauthorized access. The GST rate for padlocks and locks is 18%, and the HSN code for padlocks and locks is 8301. It's important for businesses to calculate the GST accurately on padlocks and locks to avoid any legal issues or penalties.