Stranded wire of copper is a popular material used in various industries like construction, automobile, and electronics. The wire is made up of several thin strands of copper, which are twisted together to form a single conductor. The wire is highly flexible and can be easily bent and shaped according to the requirements of the user. However, when it comes to purchasing or selling stranded wire of copper, one needs to be aware of the applicable GST rates and HSN codes. In this article, we will discuss the GST rates and HSN code for stranded wire of copper in India.
The GST rates for stranded wire of copper depend on the intended use of the product. For example, stranded wire of copper used for electrical purposes is taxed at a different rate than the one used for other purposes like construction or automobile.
1. Stranded Wire of Copper (for Electrical Purposes) - 18%
If you are purchasing or selling stranded wire of copper for electrical purposes, the applicable GST rate is 18%.
2. Stranded Wire of Copper (for any other purpose) - 28%
If the stranded wire of copper is intended for any other purpose like construction or automobile, the applicable GST rate is 28%.
The HSN code for stranded wire of copper is 7413. This code is used to classify stranded wire of copper for taxation purposes. The code is based on the Harmonized System of Nomenclature, which is an internationally recognized system for classifying goods.
Stranded wire of copper is an important material used in various industries. If you are purchasing or selling this product, it is important to be aware of the applicable GST rates and HSN codes. The GST rates depend on the intended use of the product, while the HSN code is used for classification purposes. We hope this article has provided you with a better understanding of the GST rates and HSN code for stranded wire of copper in India.
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