As a small and medium business owner or startup founder in India, it's important to know the GST rates and HSN code for the products you sell or manufacture. In this article, we'll be discussing the GST rates and HSN code for mushrooms and truffles.
The GST rates for mushrooms and truffles fall under the category of vegetables, fruits, nuts, and other edible parts of plants. According to the GST council, the GST rate for fresh or chilled mushrooms and truffles is 5%. This includes both cultivated and wild mushrooms and truffles.
For dried mushrooms and truffles, the GST rate is also 5%. However, if the mushrooms and truffles are branded and packaged, the GST rate increases to 12%. This is because the branding and packaging add value to the product and hence, a higher GST rate is applicable.
The HSN code for mushrooms and truffles is 7095. This code is used to classify goods under the category of natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal, and articles thereof.
Under this category, 7095 specifically refers to mushrooms and truffles. The HSN code is important for businesses as it helps in identifying the correct rate of tax applicable and for maintaining records.
In conclusion, the GST rates and HSN code for mushrooms and truffles are 5% and 7095, respectively. As a business owner, it's important to be aware of these rates and codes to avoid any discrepancies in tax filings and records.
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