Leather Machinery - GST Rates and HSN Code 8453

Leather machinery is an essential part of the leather industry. The industrial growth of the leather industry has been increasing, and there has been a continuous demand for leather machinery. The GST rates and HSN code for leather machinery have been revised several times since the implementation of GST. In this article, we will discuss the GST rates and HSN code for leather machinery.

What is GST?

GST is the Goods and Services Tax, which is a comprehensive tax system applied to goods and services. GST is an indirect tax that has replaced various other indirect taxes, such as VAT, service tax, and excise duty, among others. GST has been implemented in India since July 1, 2017.GST Rates for Leather Machinery

The GST rates for leather machinery are as follows:- 18% GST is applicable to leather machinery

HSN Code for Leather Machinery - 8453The HSN code for leather machinery is 8453. HSN stands for Harmonised System of Nomenclature, which is an internationally recognized system of names and numbers used to classify traded products. The HSN code for leather machinery falls under Chapter 84 of the GST.

The GST rates for leather machinery are as follows:- 18% GST is applicable to leather machinery

HSN Code for Leather Machinery - 8453

The HSN code for leather machinery is 8453. HSN stands for Harmonised System of Nomenclature, which is an internationally recognized system of names and numbers used to classify traded products. The HSN code for leather machinery falls under Chapter 84 of the GST.

The GST rates for leather machinery have been revised several times since the implementation of GST. The initial rate for leather machinery was 28%, which was later reduced to 18%. The reduction in the GST rate for leather machinery has been a significant boost for the leather industry.

The HSN code for leather machinery is 8453, which falls under Chapter 84 of the GST. Chapter 84 of the GST covers the classification of machinery, mechanical appliances, and electrical equipment. The HSN code for leather machinery is used to classify various types of leather machinery, such as leather cutting machines, leather skiving machines, leather splitting machines, and leather embossing machines, among others.

Conclusion

The leather industry is a significant part of the Indian economy, and the growth of the industry has been increasing steadily. The implementation of GST has simplified the tax system for the leather industry. The GST rates for leather machinery have been reduced, which has been a significant boost for the industry. The HSN code for leather machinery is essential for the classification of various types of leather machinery. It is crucial for businesses dealing with leather machinery to be aware of the GST rates and HSN code for leather machinery.