New
Published on:
February 25, 2023
By
Paramita

Knives - GST Rates & HSN CODE 8208

Knives are one of the most essential tools in our daily life. From household purposes to professional use, knives are used widely. However, determining the GST rates and HSN code for knives can be a bit tricky. In this article, we will discuss everything related to the GST rates and HSN code for knives.

First and foremost, let's understand what GST is. GST stands for Goods and Services Tax, which is a comprehensive tax levied on the supply of goods and services in India. It was implemented on July 1, 2017, and replaced all other indirect taxes like Value Added Tax (VAT), Central Excise Duty, etc.

Now, let's move on to the GST rates for knives. Knives fall under the category of Hand tools including knives and cutting blades. The GST rate for Hand tools including knives and cutting blades is 18%. This means that if you purchase a knife for your business, you will have to pay 18% GST on it.

Moving on to HSN code, HSN stands for Harmonized System of Nomenclature. It is a standardized system of names and numbers used to classify goods for international trade. HSN codes are used to determine the GST rates for goods.

The HSN code for knives is 8208. Knives fall under the category of Hand tools including knives and cutting blades, which falls under Chapter 82 of the HSN code. The HSN code for Hand tools including knives and cutting blades is 8201 to 8208.

It is important to note that HSN codes are mandatory for businesses with an annual turnover of more than Rs. 1.5 crores. Businesses with an annual turnover of less than Rs. 1.5 crores can use the SAC code instead of the HSN code.

In conclusion, knives fall under the category of Hand tools including knives and cutting blades, which has a GST rate of 18%. The HSN code for knives is 8208. It is important for businesses to know the GST rates and HSN codes for goods to ensure compliance with the law.

In this article, we discussed the GST rates and HSN code for knives. Knives fall under the category of Hand tools including knives and cutting blades, which has a GST rate of 18%.

Suggestions



Mixed Supply & Composite Supply under GST
GST RATES HSN CODE 1601 - SAUSAGES
Sugars, Chemically Pure - GST Rates HSN Code 2940

Updated on:
March 16, 2024