If you are a manufacturer or seller of imitation jewellery in India, it is essential to be aware of the GST rates and HSN code for your product. GST (Goods and Services Tax) is a tax on the supply of goods and services across India, and it has streamlined the taxation process in the country. HSN (Harmonized System of Nomenclature) code is a system of classification of goods for tax purposes.
In this article, we will discuss the GST rates and HSN code for imitation jewellery in detail.
The GST rates for imitation jewellery are as follows:
HSN CodeProduct DescriptionGST Rate7117Imitation jewellery3%
As per the GST Council, imitation jewellery falls under the 3% GST tax bracket. This means that if you are a manufacturer or seller of imitation jewellery, you will have to pay 3% GST on your product.
The HSN code for imitation jewellery is 7117. The HSN code helps in the classification of goods and makes the tax process more streamlined. If you are a manufacturer or seller of imitation jewellery, you will have to use the HSN code 7117 while filing your GST returns.
In conclusion, if you are a manufacturer or seller of imitation jewellery in India, it is essential to be aware of the GST rates and HSN code for your product. The GST rate for imitation jewellery is 3%, and the HSN code is 7117. Being aware of these details will help you in filing your GST returns and avoid any penalties for non-compliance.
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