For small and medium-sized businesses in India, it is important to understand the GST rates and HSN codes for the products that they sell. One of the products that is often overlooked is heating boilers, which are used in many industries, including manufacturing, hospitality, and healthcare. In this article, we will take a closer look at the GST rates and HSN code for heating boilers.
Heating boilers are classified under category 84 of the GST tax schedule. The GST rates for category 84 are as follows:
1. 5% for parts of goods specified in sub-heading 8401 90
2. 18% for all other goods
This means that heating boilers are subject to an 18% GST rate, unless they fall under the sub-heading 8401 90. If the boiler falls under this sub-heading, only the parts of the boiler are subject to a 5% GST rate.
HSN codes are used to classify goods for taxation purposes in India. The HSN code for heating boilers is 8403. This code is used for all types of boilers, including those that are used for heating water, steam, or other fluids.
The HSN code for heating boilers is further broken down into sub-categories based on the type of boiler :
1. 8403 10 : Central heating boilers other than those of heading 8402
2. 8403 20 : Auxiliary plant for use with boilers of heading 8402 or 8403 (for example, economisers, super-heaters, soot removers, gas recoverers); condensers for steam or other vapor power units
3. 8403 90 : Parts of boilers
It is important to note that the GST rate for parts of boilers under sub-heading 8403 90 is 5%, while the GST rates for all other types of boilers is 18%.
Understanding the GST rates and HSN code for heating boilers is important for small and medium businesses in India. While the GST rate for heating boilers is generally 18%, it is important to know that parts of boilers fall under a 5% GST rate if they fall under sub-heading 8401 90. The HSN code for heating boilers is 8403, which is further broken down into sub-categories based on the type of boiler.
By keeping these codes in mind, small and medium businesses in India can ensure that they are complying with GST regulations and avoiding any unnecessary penalties or fines.
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