Goods and Services Tax (GST) is an indirect tax that has replaced various other taxes in India. GST is a comprehensive tax that is levied on the supply of goods and services across the nation. One of the many categories of goods that are taxed under GST is the Peel of Citrus Fruit and Melons. This category has a specific HSN code and GST rate that every small and medium business owner and startup founder should be aware of.
GST is a single tax system that is levied on goods and services at every stage of their supply chain. This tax system has replaced various indirect taxes like Value Added Tax (VAT), Excise Duty, and Service Tax, etc. GST is levied on the final consumer, but it is collected by the seller of the goods or services. The seller then deposits the collected tax with the government.
Under GST, all goods and services are classified into different categories known as Harmonized System of Nomenclature (HSN) codes. These codes are used to identify the goods and services and to determine their GST rate.
The Peel of Citrus Fruit and Melons is classified under HSN Code 0814. This code covers the following products:
The GST rate for Peel of Citrus Fruit and Melons is 5%. This rate is applicable to all types of Peel of Citrus Fruit and Melons irrespective of whether they are fresh, frozen, dried, or preserved.
As a small or medium business owner or startup founder, it is important to understand the GST rates and HSN codes for the goods that you deal in. This will not only help you to comply with the GST regulations but also help you to price your products accurately. The HSN code and GST rate for Peel of Citrus Fruit and Melons is 814 and 5% respectively. Make sure to check the latest GST rates and HSN codes before making any supply of goods or services.
Memorandum of Understanding & FAQs
Paper or Paperboard Labels: GST Rates and HSN Code 4821
GST Rate HSN Code for Miscellaneous manufactured articles - Chapter 96