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Published on:
February 25, 2023
By
Prudhvi Raj

Other Fresh Meat Sheep - GST Rates  HSN Code 2042

India is the second-largest sheep rearing country in the world. Fresh meat from sheep is a popular delicacy and is consumed throughout the country. To regulate the taxes on the sale of sheep meat, the Indian government introduced the Goods and Services Tax (GST). This article aims to explain the GST rates and HSN code for Other Fresh Meat Sheep in India.

What is GST?

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. It is a destination-based tax that has replaced many indirect taxes in India, such as excise duty, service tax, and value-added tax (VAT).

GST Rates for Other Fresh Meat Sheep

The GST rate for Other Fresh Meat Sheep is 12%. This means that if the value of the meat is INR 100, the GST charged would be INR 12. The GST rate of 12% is inclusive of all other taxes, such as surcharges and cesses.

HSN Code for Other Fresh Meat Sheep

HSN stands for Harmonized System of Nomenclature. It is a six-digit code that is used to classify goods for taxation purposes. The HSN code for Other Fresh Meat Sheep is 0204. This code is used to identify the product and determine its tax liability.

The HSN code for Other Fresh Meat Sheep can be broken down as follows:

1. 02: This represents the meat of any kind of animal.

2. 04: This represents the fresh meat of sheep or goats.

Conclusion

Knowing the GST rates and HSN code for Other Fresh Meat Sheep is essential for small and medium business owners and startup founders who deal with the sale and purchase of sheep meat. Understanding the taxes helps in accurate invoicing and ensures compliance with the law.

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Updated on:
March 16, 2024