As a small or medium business owner or startup founder in India, it's essential to stay up-to-date with the latest GST rates and HSN codes for various products and materials. Today, we're going to focus on Molybdenum Ores and Concentrates and the GST rates and HSN codes associated with them.
Molybdenum is a chemical element with the symbol Mo and atomic number 42. It is a silvery-white metal that is ductile and highly resistant to corrosion. Molybdenum ores and concentrates are the raw materials used to extract molybdenum metal.
The primary source of molybdenum is the mineral molybdenite (MoS2). Other sources of molybdenum include wulfenite (PbMoO4) and powellite (CaMoO4).
According to the GST rates schedule, Molybdenum ores and concentrates fall under the category of mineral fuels, mineral oils, and products of their distillation; bituminous substances; mineral waxes.
The GST rate for Molybdenum ores and concentrates are 5%.
The HSN (Harmonized System of Nomenclature) code is a system that classifies goods based on their nature, form, and use. The HSN code for Molybdenum ores and concentrates is 2613.
The HSN code 2613 covers molybdenum ores and concentrates, including roasted molybdenum concentrates.
Now that you're aware of the GST rates and HSN code for Molybdenum ores and concentrates, you can ensure that your small or medium business is adhering to the latest regulations. It's always essential to stay up-to-date with the latest rules and regulations to ensure your business stays compliant and avoids any unnecessary fines or penalties.
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