When it comes to buying and selling footwear, it is important to understand the GST rates and HSN code for parts of footwear. The Goods and Services Tax (GST) is a tax on the supply of goods and services in India. Footwear is classified under HSN code 64, which covers goods made of leather or composition leather, rubber, plastics, or textiles.
1. 18% GST on insoles, heel cushions, footbeds, and similar articles
2. 12% GST on shoelaces, buckles, clasps, and similar articles, and
3. 5% GST on other parts of footwear
HSN stands for 'Harmonized System of Nomenclature' and is an internationally standardized system of names and numbers used to classify goods in trade.
The HSN code for parts of footwear is 6406. This code covers all parts of footwear, including insoles, heel cushions, footbeds, shoelaces, buckles, clasps, and other parts.
Understanding the GST rates and HSN code for parts of footwear is important for anyone involved in the buying or selling of footwear. The rates and code may vary depending on the type of footwear, so it is always recommended to check the latest rates and code before making any transactions.
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