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Published on:
February 25, 2023
By
Paramita

Margarine - GST Rates  HSN Code 1517

Margarine is a food product that is widely used in the food industry as a butter substitute. It is made from vegetable oils and water, and it has a similar taste and texture to butter. In India, Margarine is classified under the Harmonized System of Nomenclature (HSN) code 1517. In this article, we will discuss the GST rates and HSN code for Margarine.

HSN Code and GST Rates for Margarine

Margarine is classified as a food product under the HSN code 1517. According to the GST rates, the tax applicable on Margarine is 12%.

The GST rates for food products are divided into four categories. The GST rates for Margarine fall under the 12% category. The 12% rate includes all processed food products, including Margarine.HSN Code for MargarineAs mentioned earlier, the HSN code for Margarine is 1517. This code is used to classify food products in the GST regime. It is important to use the correct HSN code for the product you are selling to avoid any confusion during the tax filing process.

The HSN code for Margarine falls under the heading of edible vegetables and certain roots and tubers. The code is further divided into sub-headings based on the type of vegetable or product. Margarine is classified under sub-heading 1517.90, which is for other oils and fats derived from vegetable sources.

Conclusion

In conclusion, Margarine is a food product that is widely used in the food industry. It is classified under HSN code 1517, and the GST rate applicable on Margarine is 12%. As a business owner, it is important to use the correct HSN code for the product you are selling and to pay the applicable GST rate to avoid any legal issues in the future.

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Updated on:
March 16, 2024