New
February 25, 2023
By
Prerna

INSULATING FITTINGS - GST RATES & HSN CODE 8547

Insulating fittings are electrical connectors that are designed to insulate electrical conductors from the surrounding environment. They are commonly used in electrical systems to connect and disconnect electrical devices and to protect against electrical shock and fire hazards. Insulating fittings are made from a variety of materials, including plastic, ceramic, and metal, and can be used in a range of applications, from domestic electrical systems to industrial machinery.

Under the Goods and Services Tax (GST) regime, insulating fittings are classified under HSN code 8547, which covers "insulating fittings for electrical machines, appliances or equipment, being fittings wholly of insulating material". The GST rate for insulating fittings is 18%, which is the standard rate for most goods and services in India.

The Importance of Insulating Fittings

Insulating fittings play a crucial role in electrical systems, as they help to prevent electrical shock and fire hazards. Electrical systems can be dangerous if not properly insulated, and insulating fittings provide an additional layer of protection for electrical conductors.

Insulating fittings are also used to connect and disconnect electrical devices, which makes them an essential component of many electrical systems. Without insulating fittings, it would be difficult to safely and efficiently operate many electrical devices, from small appliances to large industrial machinery.

HSN Code for Insulating Fittings

Insulating fittings are classified under HSN code 8547, which covers "insulating fittings for electrical machines, appliances or equipment, being fittings wholly of insulating material". The HSN code is a system of classification used by the GST to identify goods and services for tax purposes.

HSN code 8547 is part of Chapter 85 of the GST tariff, which covers "electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles". Chapter 85 includes a wide range of electrical equipment, from small household appliances to large industrial machinery.

GST Rate for Insulating Fittings

The GST rate for insulating fittings is 18%, which is the standard rate for most goods and services in India. The GST rate for insulating fittings is the same as the rate for other electrical equipment and machinery covered under Chapter 85 of the GST tariff.

The GST rate for insulating fittings is an important consideration for businesses that buy and sell these products. Businesses that buy insulating fittings for use in their own operations can claim the GST paid on these products as an input tax credit, which can help to reduce their overall tax liability. Similarly, businesses that sell insulating fittings are required to charge GST on these products and remit the tax to the government.

Conclusion

Insulating fittings are an essential component of many electrical systems, providing an additional layer of protection against electrical shock and fire hazards. Under the GST regime, insulating fittings are classified under HSN code 8547 and are subject to a GST rate of 18%. The HSN code and GST rate for insulating fittings are important considerations for businesses that buy and sell these products, as they can affect the overall cost and tax liability of these transactions.

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