Everything You Need To Know About GST Rates and HSN Code for Manganese

Are you a small or medium-sized business owner or startup founder in India looking for information on GST rates and HSN code for Manganese? You've come to the right place! In this article, we will take a detailed look at GST rates and HSN code for Manganese, as well as what it means for your business.

What is Manganese?

Manganese is a chemical element with the symbol Mn and atomic number 25. It is a silvery-grey metal that is essential for human life, as well as for the production of steel, aluminum, and other metals. Manganese is found in many minerals, including pyrolusite, braunite, and hausmannite. It is used in a variety of industries, including agriculture, pharmaceuticals, and mining.

GST Rates for Manganese

Under the Indian GST system, Manganese is classified under chapter 26 of the GST tariff act. The GST rate for Manganese is 18%. This means that if you are a seller of Manganese, you need to charge 18% GST on the value of the goods sold. Similarly, if you are a buyer of Manganese, you need to pay 18% GST on the value of the goods purchased.

HSN Code for Manganese

HSN or Harmonized System of Nomenclature is a globally accepted system of classifying goods. The HSN code for Manganese is 8111. The first two digits of the HSN code represent the chapter under which the goods fall, while the next two digits represent the heading within the chapter. The last two digits represent the sub-heading.

For instance, the HSN code for Manganese is 8111. The first two digits, 81, represent the chapter 'Base Metals and Articles of Base Metal'. The next two digits, 11, represent the heading 'Manganese and articles thereof, including waste and scrap'. The last two digits, 00, represent the sub-heading.

Impact of GST Rates and HSN Code for Manganese on Your Business

Knowing the GST rates and HSN code for Manganese is essential for your business. It helps you understand the tax implications of buying or selling Manganese, as well as for maintaining proper accounting records. Proper knowledge of GST rates and HSN code also helps you avoid any penalties or legal issues that may arise from non-compliance with GST laws.

If you are a small or medium-sized business owner or startup founder dealing with Manganese, you need to ensure that you are charging the correct GST rate and using the correct HSN code. This will help you avoid any unnecessary expenses and legal issues.

Conclusion

Understanding GST rates and HSN code for Manganese is essential for small and medium-sized business owners and startup founders dealing with Manganese. It helps you comply with GST laws, maintain proper accounting records, and avoid any legal issues. The GST rate for Manganese is 18%, and the HSN code for Manganese is 8111.

Hopefully, this article has provided you with all the information you need to know about GST rates and HSN code for Manganese. If you have any questions or need further clarification, feel free to contact us.