As a business owner or a startup founder, staying on top of the various GST rates and HSN codes for different products and services is essential. This includes knowing the rates and codes for skins and other parts of birds.
HSN stands for Harmonized System of Nomenclature, and it is an internationally recognized system for classifying goods traded around the world. The HSN code for skins and other parts of birds is 6701.
When it comes to GST rates, skins and other parts of birds fall under the category of animal skins and furs, which has a GST rate of 5%. This rate was introduced in 2017 and has remained the same since then.
If your business deals with skins and other parts of birds, it is important to know the GST rate so that you can calculate and collect the appropriate amount of tax from your customers. Additionally, you will need to include the HSN code for these products on your invoices and other relevant documents.
Not knowing the correct GST rate or HSN code can lead to issues with compliance and can even result in penalties or fines.
Understanding the HSN code and GST rate for skins and other parts of birds is crucial for any business owner or startup founder in this industry. By staying up-to-date with the latest regulations and requirements, you can ensure that your business is compliant and avoid any potential penalties or fines.
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National Digital Library of India