MINERAL CHEMICAL FERTILISERS NITROGENOUS - GST RATES HSN CODE 3102

Mineral or chemical fertilizers are utilized in agriculture to improve soil quality and crop yield. The government of India has set GST rates and HSN code for these fertilizers. Understanding these rates and codes is crucial for small and medium business owners and startup founders in India. In this article, we will provide a detailed explanation of the same.

What is GST?

GST or Goods and Services Tax is a unified tax system that is levied on the supply of goods and services in India. It was introduced on 1st July 2017 to replace multiple taxes such as VAT, excise duty, and service tax.

What is HSN Code?

HSN or Harmonized System of Nomenclature is a code system that is used to classify goods all over the world. It is a six-digit code that is used to classify goods and services for taxation purposes. The first two digits represent the chapter, the next two digits represent the heading, and the last two digits represent the sub-heading.

GST Rates and HSN Code for Mineral or Chemical Fertilizers, Nitrogenous

As per the GST regime, the GST rate for mineral or chemical fertilizers, nitrogenous is 5%. The HSN code for mineral or chemical fertilizers, nitrogenous is 3102.

It is important for small and medium business owners and startup founders to understand the GST rates and HSN code for mineral or chemical fertilizers, nitrogenous to ensure compliance with the law. Failure to comply with the law can result in penalties and fines.

Conclusion

Understanding the GST rates and HSN code for mineral or chemical fertilizers, nitrogenous is crucial for small and medium business owners and startup founders in India. In this article, we have provided a detailed explanation of the same. We hope that this article has been informative and helpful.