PLAITS MATERIALS - GST RATES & HSN CODE 4601

GST or Goods and Services Tax is an indirect tax that has replaced many indirect taxes in India. It is a comprehensive tax levied on goods and services that are sold for domestic consumption. With the implementation of GST, the Indian government has ensured that the tax system becomes more streamlined, and the tax collection becomes more efficient.

HSN or Harmonized System of Nomenclature is a globally accepted system of classification of goods. It is used to classify goods for taxation purposes, statistics, and other purposes. HSN code is a six-digit code that is used to classify goods and services.

Plaits are a type of hair accessory that is made up of intertwined strands of hair. They are commonly used by women and girls for hairstyling purposes. In this article, we will discuss the GST rates and HSN code for Plaits and Materials.

GST Rates for Plaits Materials

The GST rates for Plaits and Materials depend on the HSN code of the product. The following are the GST rates for Plaits and Materials:

1. HSN code 4601 - Plaits and Materials, 5% GST

As per the GST regulations, the GST rate for Plaits and Materials is 5%. This rate is applicable to all types of Plaits and Materials, irrespective of their nature, quality, or value. The GST rate for Plaits and Materials is also applicable to all types of transactions, including sales, purchases, and imports.

HSN Code for Plaits Materials

The HSN code for Plaits and Materials is 4601. This code is used to classify all types of Plaits and Materials, irrespective of their nature, quality, or value.

The HSN code for Plaits and Materials is important for various reasons. It helps in the calculation of GST, customs duty, and other taxes. It also helps in the collection of statistics related to the trade of Plaits and Materials.

Conclusion

The GST rates and HSN code for Plaits and Materials are important for businesses involved in the production, sale, or import of Plaits and Materials. By understanding the GST rates and HSN code for Plaits and Materials, businesses can ensure compliance with the GST regulations and avoid the consequences of non-compliance.