As an Indian small or medium business owner or startup founder, you might be wondering about the GST rates and HSN code for live horses, asses, mules, and hinnies. In this article, we’ll provide a detailed overview of everything you need to know.
Live horses, asses, mules, and hinnies are all animals that belong to the equine family. They are typically used for transportation, agriculture, and recreational purposes. These animals can be found all over India and are an important part of many industries.
The GST rate for live horses, asses, mules, and hinnies is 12%. This rate applies to all live animals, regardless of their intended use. This means that whether you are purchasing a horse for transportation or a mule for agriculture, you will be subject to the same GST rate.
The HSN code for live horses, asses, mules, and hinnies is 0101. This code is used to identify and classify live animals according to their type and intended use. The code is used by businesses to ensure that they are paying the correct GST rate on their purchases.
Knowing the GST rate and HSN code for live horses, asses, mules, and hinnies is important for several reasons. First, it ensures that you are paying the correct amount of tax on your purchases. Second, it helps you to properly classify your purchases for accounting and tax purposes. Finally, it can help you to avoid penalties and fines for incorrect tax reporting.
In conclusion, the GST rate for live horses, asses, mules, and hinnies is 12%, and the HSN code is 0101. As an Indian small or medium business owner or startup founder, it is important to know this information so that you can properly classify your purchases and ensure that you are paying the correct amount of tax.
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