Laboratory Glassware - GST Rates and HSN Code 7017

Scientific research and analysis rely heavily on laboratory glassware. From test tubes to pipettes, beakers to burettes, laboratory glassware is an essential component in any laboratory. Ensuring that laboratory glassware is of the highest quality is crucial in achieving accurate and reliable results.

However, laboratory glassware can often come with a hefty price tag. Understanding the GST rates and HSN code for laboratory glassware can help small and medium businesses and startup founders in the Indian market manage their finances and comply with tax regulations.

GST Rates for Laboratory Glassware

The GST (Goods and Services Tax) rates for laboratory glassware in India fall under the 18% slab. This means that businesses purchasing laboratory glassware will be charged 18% GST on the product's value.

It is important to note that the GST rates for laboratory glassware can vary depending on the specific product type. Businesses should always verify the GST rates with their supplier or consult with a tax expert if they are unsure.

HSN Code for Laboratory Glassware

The HSN (Harmonized System of Nomenclature) code for laboratory glassware in India is 7017. This code is specific to glassware used in laboratories, including products such as:

1. Test tubes

2. Pipettes

3. Burettes

4. Beakers

5. Erlenmeyer flasks

6. Graduated cylinders

It is important to ensure that laboratory glassware is classified under the correct HSN code when purchasing or selling products. This helps to ensure compliance with tax regulations and avoid any potential penalties for misclassification.

Conclusion

Understanding the GST rates and HSN code for laboratory glassware can help small and medium businesses and startup founders in the Indian market manage their finances and comply with tax regulations. By being aware of the 18% GST rate and HSN code 7017, businesses can ensure that they are properly invoiced and classified under the correct tax regulations.

When purchasing or selling laboratory glassware, it is important to verify the GST rates and HSN code with the supplier or consult with a tax expert if there is any uncertainty. By taking these steps, businesses can avoid potential penalties and ensure compliance with tax regulations.