As a small or medium business owner or a startup founder in India, understanding GST rates and HSN codes is crucial for making informed decisions about your business. In this article, we will discuss the GST rates and HSN code for Insulating Units of Glass, which is an essential component of various industries such as construction, architecture, and engineering.
Insulating Units of Glass, also known as double glazing, is a type of glass that consists of two or more panes of glass separated by a spacer and sealed to create a single unit. The space between the two panes is filled with air, which acts as an insulator and reduces heat transfer through the glass. This type of glass provides better insulation and noise reduction as compared to single-pane glass.
The GST rates for Insulating Units of Glass fall under the 28% tax slab. GST is calculated on the transaction value of the goods or services, which is the price paid or payable by the buyer to the seller for the supply of goods or services. The transaction value includes any taxes, duties, fees, and charges levied under any law in force other than the GST.
The HSN code for Insulating Units of Glass is 7008. HSN codes are a system of classification used to identify goods and services for taxation purposes. The HSN code for Insulating Units of Glass falls under the heading 'Glass and Glassware' and the sub-heading 'Glass Mirrors, whether or not framed, including rear-view mirrors.' The HSN code for Insulating Units of Glass is used to determine the GST rates applicable to the product.
As a small or medium business owner or a startup founder in India, it is essential to understand the GST rates and HSN codes applicable to your products or services. Insulating Units of Glass are an essential component of various industries and fall under the 28% tax slab with an HSN code of 7008. By understanding the GST rates and HSN codes applicable to Insulating Units of Glass, you can make informed decisions about your business and ensure compliance with GST regulations.
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