Are you a small or medium business owner or a startup founder in India? Do you deal with machines and their parts? If so, it's time to familiarize yourself with the GST rates and HSN code for Other Parts for Machines under HSN code 9033.
First, let's understand what Other Parts for Machines are. These are components, sub-assemblies, and accessories used in various types of machinery. HSN code 9033 covers a wide range of products, from mechanical appliances to electrical equipment.
Now, let's talk about GST rates. Other Parts for Machines under HSN code 9033 attract a GST rate of 18%. This rate is applicable to all types of machinery, including mechanical, electrical, and electronic equipment.
In addition to the standard GST rate, there are specific rates for a few types of machinery. For example, parts for the manufacture of electrical transformers and inductors have a GST rate of 12%. Parts for the manufacture of electrical motors and generators have a GST rate of 28%.
Now, let's look at HSN codes. HSN code 9033 covers a wide range of products, so it's essential to understand the appropriate code for your specific product. Here are some of the most common HSN codes for Other Parts for Machines:
1. 9033 00 10 - Parts and accessories for machines of heading 8469
2. 9033 00 20 - Parts and accessories for machines of heading 8470
3. 9033 00 30 - Parts and accessories for machines of heading 8471
4. 9033 00 40 - Parts and accessories for machines of heading 8472
5. 9033 00 90 - Other parts and accessories for machines
When filing your GST returns, it's crucial to use the correct HSN code to avoid any penalties or legal issues.
In conclusion, if you deal with Other Parts for Machines under HSN code 9033, it's essential to understand the appropriate GST rate and HSN code for your specific product. By doing so, you can ensure compliance with GST regulations and avoid any legal issues.
GST Rates and HSN Code for Other Paints and Varnishes
No Tax relief under GST for entities enjoying Tax Exemption
Form PMT-09 is available on GST portal - Everything you need to know