Parachutes are used in various industries like defense, aviation, and sports. It is important to know the GST rates and HSN code for Parachutes if you are involved in any of these industries. In this article, we will discuss the same in detail.
The GST rate for Parachutes is 12%. This rate is applicable to all types of parachutes, including military and non-military parachutes. The GST rate for parachutes was reduced from 18% to 12% in 2018.
If you are selling or purchasing parachutes, you need to charge or pay GST at the rate of 12%. It is important to ensure that the correct GST rate is applied to avoid any penalties or legal issues.
The HSN code for Parachutes is 8804. This code is used to classify all types of parachutes under the GST system. The HSN code is a 6-digit code that is used to identify the goods and services under the GST system.
If you are involved in the sale or purchase of parachutes, you need to mention the HSN code 8804 in your invoices and other documents. It is important to ensure that the correct HSN code is used to avoid any issues with the GST authorities.
Parachutes are an important part of various industries like defense, aviation, and sports. It is important to know the GST rates and HSN code for parachutes if you are involved in any of these industries. The GST rate for parachutes is 12%, and the HSN code for parachutes is 8804. It is important to ensure that the correct GST rate and HSN code are used to avoid any penalties or legal issues.
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