When it comes to the classification of chemicals, the GST rates and HSN codes are crucial for businesses to understand. One such category of chemicals is Organic Derivatives Hydrazine Hydroxylamine. In this article, we will explore the GST rates and HSN code for this specific type of chemical.
Organic Derivatives Hydrazine Hydroxylamine are a type of chemical compound that are widely used in various industries such as pharmaceuticals, agrochemicals, and dyes. These compounds are organic derivatives of hydrazine and hydroxylamine, which are both highly reactive compounds.
Organic Derivatives Hydrazine Hydroxylamine are used as reducing agents, catalysts, and as intermediates in the production of various chemicals. They are also used in the production of rocket propellants and explosives.
The GST rates for Organic Derivatives Hydrazine Hydroxylamine fall under the 18% tax slab. This means that businesses dealing in these chemicals will have to pay a GST rate of 18% on their sales.
It is important for businesses to note that the GST rates can vary depending on the specific type of Organic Derivatives Hydrazine Hydroxylamine being sold. For example, if the chemical is being sold as an intermediate for the production of another chemical, the GST rate may be different.
The HSN code for Organic Derivatives Hydrazine Hydroxylamine is 2928. This code is used to classify the chemical for taxation purposes. The HSN code is a 6-digit code that is used to identify the type of product being sold.
Businesses dealing in Organic Derivatives Hydrazine Hydroxylamine must ensure that they correctly classify their products using the HSN code. Failure to do so can result in penalties and fines.
In conclusion, the GST rates and HSN code for Organic Derivatives Hydrazine Hydroxylamine are important for businesses to understand. These chemicals are widely used in various industries and it is crucial for businesses to correctly classify and tax their products. By understanding the GST rates and HSN code, businesses can ensure compliance with the law and avoid penalties and fines.
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