As an Indian Small and Medium Business owner or Startup founder, it's essential to understand the GST rates and HSN code for Other Engines Parts. This knowledge can help you ensure compliance and prevent any legal issues while filing your GST returns. In this article, we'll provide you with a comprehensive guide to GST rates and HSN code for Other Engines Parts.
GST stands for Goods and Services Tax, which is an indirect tax levied on the supply of goods and services. It has replaced multiple indirect taxes, such as central excise, service tax, and state VAT, making it a single comprehensive tax on goods and services. GST is divided into four slabs: 5%, 12%, 18%, and 28%.
HSN code stands for Harmonized System of Nomenclature code. It's a six-digit code used to classify goods for taxation purposes. The code is internationally accepted and helps classify goods and services for export and import purposes. Knowing the HSN code for your goods can help you determine the GST to be paid on them accurately.
The GST rate and HSN code for Other Engines Parts are as follows:
The HSN code 8409 covers all goods other than those falling under heading 8408. This includes parts of engines, such as crankshafts, bearings, pistons, and valves, among others. The GST rate applicable on Other Engines Parts is 18%.
Understanding the GST rates and HSN code for Other Engines Parts is crucial for Indian Small and Medium Business owners and Startup founders, as it helps ensure compliance and prevent any legal issues while filing GST returns. The HSN code 8409 covers all goods other than those falling under heading 8408, and the GST rate applicable on Other Engines Parts is 18%. We hope this article has helped you gain a better understanding of the GST rates and HSN code for Other Engines Parts.
GLASS BEADS IMITATION PEARLS - GST RATES HSN CODE 7018
Date Sealing Stamps - GST Rates HSN Code 9611
Should You Opt for Voluntary Registration Under GST?
