Petroleum coke (often abbreviated pet coke) is a carbonaceous solid derived from oil refinery coker units or other cracking processes. Bitumen is a mixture of hydrocarbons and is used as a binder in road construction. The Indian government has set GST rates and HSN codes for petroleum coke and bitumen. In this article, we will discuss the GST rates and HSN codes for petroleum coke and bitumen.
The GST rates for petroleum coke and bitumen are as follows:
Product HSN Code GST Rate Petroleum Coke 271318% Bitumen 271318%
This means that both petroleum coke and bitumen fall under HSN code 2713, and are charged at a GST rate of 18%.
HSN code 2713 refers to petroleum coke, bitumen and other residues of petroleum oils or of oils obtained from bituminous minerals. This code is used to classify these products for taxation purposes.
The HSN code for petroleum coke and bitumen is 2713. This code is used to classify these products for taxation purposes. In order to determine the HSN code for a particular product, you will need to look up the HSN code list and find the appropriate code based on the product description.
Knowing the GST rates and HSN code for petroleum coke and bitumen is important for businesses involved in their production, distribution, or sale. The GST rate for both products is 18% and they fall under HSN code 2713. Businesses need to ensure they comply with GST requirements to avoid any penalties.
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