Aluminium is a popular material used in the manufacturing of household articles such as kitchen utensils, pots and pans, and other items used for cooking and serving food. In India, the Goods and Services Tax (GST) is levied on all goods and services sold or provided, and household articles of aluminium are no exception. In this article, we will take a closer look at the GST rates and HSN code for household articles of aluminium.
GST is a value-added tax levied on goods and services purchased in India. It was introduced on July 1, 2017, to replace multiple indirect taxes such as excise duty, service tax, and value-added tax (VAT). GST is levied on the value of goods and services sold or provided and is collected at each stage of the supply chain from manufacturer to consumer. The GST rates vary depending on the nature of the goods or services and are categorized into four main tax slabs – 5%, 12%, 18%, and 28%.
The Harmonized System of Nomenclature (HSN) is a system used to classify goods traded internationally. It is a standardized system used to assign a unique code to each product to facilitate trade across borders. The HSN code for a product is a six-digit code that is used to identify the product and determine its tax rate under the GST system.
Household articles of aluminium fall under the 18% GST tax slab. This includes all aluminium utensils, pots, pans, pressure cookers, and other household items made of aluminium. This tax rate is applied to the value of the goods sold or provided, including any additional charges such as shipping or handling fees.
The HSN code for household articles of aluminium is 7615. This code is used to identify all household articles made of aluminium, including cookware, tableware, and other household items. This code is important for determining the appropriate GST rate for the product and for facilitating trade across borders.
Understanding the GST rates and HSN code for household articles of aluminium is important for small and medium business owners and startup founders who manufacture or sell these products. By knowing the tax rates and codes, they can accurately price their products and avoid any penalties for non-compliance with the GST regulations.
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