GST Rates and HSN Code for Lac, Natural Gums, Resins, Gum Resins, and Oleoresins

India’s Goods and Services Tax (GST) is a comprehensive tax system that applies to the sale of goods and services. The GST was introduced on July 1, 2017, and has replaced several indirect taxes, including excise duty, service tax, and value-added tax (VAT).

One of the categories that come under the GST Act is Lac, Natural Gums, Resins, Gum Resins, and Oleoresins. In this article, we will discuss the GST rates and HSN code for this category.

What are Lac, Natural Gums, Resins, Gum Resins, and Oleoresins?

Lac, Natural Gums, Resins, Gum Resins, and Oleoresins are substances that are commonly used in a variety of industries, including food, pharmaceuticals, cosmetics, and textiles. These substances are derived from natural sources such as trees, plants, and animals.

Lac is a resinous substance that is secreted by the lac insect. It is commonly used in the manufacture of shellac, which is used as a coating for furniture, food products, and pharmaceuticals.

Natural gums are derived from plant exudates and are commonly used in the food industry as thickeners, stabilizers, and emulsifiers. Examples of natural gums include guar gum, xanthan gum, and Arabic gum.

Resins are produced by trees and plants in response to injury or damage. They are commonly used in the manufacture of adhesives, varnishes, and coatings.

Gum resins are mixtures of resin and gum that are commonly used in the manufacture of incense, perfumes, and medicinal products.

Oleoresins are natural extracts that are derived from spices and herbs. They are commonly used in the food and beverage industry as flavoring agents.

GST Rates for Lac, Natural Gums, Resins, Gum Resins, and Oleoresins

The GST rates for Lac, Natural Gums, Resins, Gum Resins, and Oleoresins are as follows:

Lac and shellac – 18%
Natural gums, resins, and gum resins – 5%
Oleoresins – 18%

The GST rates for these substances are subject to change, and it is important to check the latest rates before making a purchase.

HSN Code for Lac, Natural Gums, Resins, Gum Resins, and Oleoresins

The HSN code for Lac, Natural Gums, Resins, Gum Resins, and Oleoresins is 1301. This code is used to classify these substances for the purpose of taxation and is required when filing GST returns.

Conclusion

In conclusion, Lac, Natural Gums, Resins, Gum Resins, and Oleoresins are substances that are commonly used in a variety of industries. The GST rates for these substances vary depending on the type of substance, with rates ranging from 5% to 18%. The HSN code for these substances is 1301.