The goods and services tax (GST) is an indirect tax that was introduced in India on 1 July 2017. GST rates and HSN codes for goods and services are regulated by the GST Council. GST rates for goods are divided into different slabs - 0%, 5%, 12%, 18%, and 28%. The HSN code is a unique code assigned to every commodity to classify it under GST.
In this article, we will discuss the GST rates and HSN code for unwrought lead in India.
Unwrought lead is a primary form of lead that is produced by mining lead ore and subjecting it to a smelting process. It is not further processed or refined and is sold in the form of ingots, bars, or other shapes.
The GST rate for unwrought lead is 18%. This rate applies to all forms of unwrought lead, including ingots, bars, and other shapes.
It is important to note that the GST rate for unwrought lead is not the same as the rate for lead concentrates, which are taxed at 5%. Lead concentrates are the raw materials used to produce unwrought lead, and they are subject to a lower GST rate as they are not yet in their final form.
The HSN code for unwrought lead is 7801. This code is used to classify all forms of unwrought lead, including ingots, bars, and other shapes, under GST.
The GST rate for unwrought lead in India is 18%, and the HSN code for unwrought lead is 7801. Business owners and traders dealing in unwrought lead must ensure that they are aware of these rates and codes to comply with GST regulations.
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