If you're a small or medium business owner or a startup founder in India, chances are you might require the use of Jute Machinery as a part of your business operations. In this article, we'll be going over the GST rates and HSN code for Jute Machinery so that you're well-informed about the taxes you'll be liable to pay when using them.
Juite Machinery, also known as Jute Machinery, is a type of machinery used in the manufacturing of jute products. Jute is a natural fiber that is commonly used to make ropes, bags, and other types of products. Jute Machinery is used to process raw jute fibers into yarns, fabrics, and other useful products.
As per the GST Council, the GST rate for Jute Machinery is 12%, which includes the Integrated Goods and Services Tax (IGST), State Goods and Services Tax (SGST), and Central Goods and Services Tax (CGST). This rate is applicable to all types of Jute Machinery, including spinning frames, drawing machines, carding machines, and more.
The Harmonized System of Nomenclature (HSN) code for Jute Machinery is 84482010. This HSN code is specific to Jute Machinery that is used in the manufacturing of jute products. It's important to note that the HSN code for Jute Machinery may vary depending on the type of machinery being used, so it's important to double-check the code before filing your GST returns.
That's all you need to know about the GST rates and HSN code for Jute Machinery. As a small or medium business owner or a startup founder, it's important to stay informed about the taxes you'll be liable to pay when using Jute Machinery. By keeping these rates and codes in mind, you can ensure that you're filing your GST returns accurately and efficiently.
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