Saturated Acyclic Monocarboxylic Acids are a group of organic compounds that are widely used in various industries. These compounds are used as intermediates in the production of different chemicals and are also used in the manufacturing of various products. In this article, we will discuss the GST rates and HSN code for Saturated Acyclic Monocarboxylic Acids.
Saturated Acyclic Monocarboxylic Acids are aliphatic carboxylic acids that have no double bonds or rings in their carbon chain. These acids are also known as fatty acids and are commonly found in animal and vegetable fats and oils. The most common examples of Saturated Acyclic Monocarboxylic Acids are palmitic acid, stearic acid, and lauric acid.
Saturated Acyclic Monocarboxylic Acids fall under the HSN code 2915 and attract a GST rate of 18%. This rate is applicable to both intra-state and inter-state transactions. However, if the Saturated Acyclic Monocarboxylic Acids are used in the manufacture of goods that attract a lower GST rate, the applicable GST rate will be the lower rate.
The HSN code for Saturated Acyclic Monocarboxylic Acids is 2915. This code is used to classify goods for taxation purposes. It is a globally accepted system that is used to identify goods and services in international trade.
Saturated Acyclic Monocarboxylic Acids are important compounds that are widely used in various industries. The GST rates and HSN code for these acids are important for businesses that deal with these compounds. Understanding the applicable GST rates and HSN codes can help businesses comply with the GST regulations and avoid any penalties.
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