As an Indian small or medium business owner, understanding the GST rates and HSN codes applicable to your products is crucial to ensure compliance with tax regulations. In this article, we will be discussing Other Oil Cake - its GST rates and HSN code.
Other Oil Cake is a byproduct of oil production. It is a solid residue left after the extraction of oil from seeds or nuts. It is commonly used as a livestock feed or as a fertilizer due to its high nutrient content.
Other Oil Cake falls under the 5% GST tax bracket. This rate applies to all forms of Other Oil Cake, including ground, powdered, and pellets.
HSN code 2306 is applicable to all forms of Other Oil Cake. This code falls under the heading "Oil Seeds and Oleaginous Fruits; Miscellaneous Grains, Seeds, and Fruit; Industrial or Medicinal Plants; Straw and Fodder" and applies to all products made from oil seeds and oleaginous fruits.
Other Oil Cake has several advantages that make it a popular choice as a livestock feed or fertilizer. Some of these advantages include:
Understanding the GST rates and HSN codes applicable to your products is crucial for any small or medium business owner in India. Other Oil Cake falls under the 5% GST tax bracket and has an HSN code of 2306. Other Oil Cake is a cost-effective, sustainable, and organic livestock feed or fertilizer that is rich in nutrients, making it a popular choice for farmers.
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