Piston engines are an essential component of many vehicles in the automotive industry. These engines are used in cars, trucks, motorcycles, and other transportation vehicles. If you are a small or medium business owner in the automotive industry or a startup founder, you need to know the GST rates and HSN code for piston engines.
The GST rate for piston engines is 28%. This rate applies to all types of piston engines, including those used in motorcycles, cars, trucks, and other vehicles. If you are importing piston engines into India, you will need to pay the applicable GST rate. If you are selling piston engines to customers, you will also need to charge them the GST rate.
The HSN code for piston engines is 8407. This code is used to classify piston engines for taxation purposes. The HSN code is crucial for all small and medium business owners in the automotive industry and for startup founders who want to make sure they are complying with the government’s regulations.
In conclusion, knowing the GST rates and HSN code for piston engines is crucial for all small and medium business owners in the automotive industry and for startup founders. Make sure you are complying with the government’s regulations and paying the applicable GST rate when importing or selling piston engines. Also, use the correct HSN code when classifying piston engines for taxation purposes.
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