Modelling pastes are a popular item used in the art industry. They are used for sculpting, moulding, and other creative projects. If you're a small business owner or a startup founder in India, then you might be interested in knowing more about the GST rates and HSN code for modelling pastes.
Modelling pastes are classified as an artistic material under the GST regime. As a result, the GST rate for modelling pastes is set at 18%. This 18% GST rate is applicable to all types of modelling pastes, including polymer clay, air-dry clay, and other types of modelling pastes.
It's essential to note that if you're importing modelling pastes from another country, you'll be subject to IGST (Integrated GST). The IGST rate for modelling pastes is also set at 18%.
The HSN code for modelling pastes is 3407. This HSN code is used for all types of modelling pastes. The HSN code for modelling pastes is essential for businesses that are registered under the GST regime as they need to mention it in their invoices.
Now that you know about the GST rates and HSN code for modelling pastes, you can ensure that you're charging the correct tax rate and mentioning the appropriate HSN code in your invoices. If you're a small business owner or a startup founder in India, it's vital to stay updated on the latest GST rates and HSN codes to avoid any penalties or legal issues.
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