HSN Code 409 covers natural honey and edible products of animal origin, not elsewhere specified or included. Natural honey is a sweet, golden-colored liquid produced by bees from the nectar of flowers. It has been prized for its nutritional and medicinal value for centuries.
The tax rate for HSN Code 409 products varies depending on the jurisdiction. In India, Generally, the GST rate for natural honey is 18%. This means that if you are a seller of natural honey in India, you need to charge 18% GST on the price of the honey sold. Similarly, if you are a buyer of natural honey in India, you need to pay 18% GST on the purchase price.
HSN Code 409 plays an important role in the honey industry. The tax rate for natural honey can have a significant impact on the price of honey, which can in turn affect consumer demand.
For example, a high tax rate on honey could make honey less affordable for consumers. This could lead to a decrease in the demand for honey, which could hurt businesses that produce and sell honey.
On the other hand, a low tax rate on honey could make honey more affordable for consumers. This could lead to an increase in the demand for honey, which could benefit businesses that produce and sell honey.
Overall, HSN Code 409 is an important factor that businesses in the honey industry need to be aware of. The tax rate for natural honey can have a significant impact on the price of honey, which can in turn affect consumer demand.
HSN Code 409 is a comprehensive code that covers natural honey and edible products of animal origin, not elsewhere specified or included. The tax rate for HSN Code 409 products varies depending on the jurisdiction, but it is important for businesses in the honey industry to be aware of these tax rates as they can have a significant impact on the price of honey and consumer demand.
Filing of GSTR-1 before GSTR-3B
