Prepared enzymes are widely used in various industrial processes in India, such as food processing, textiles, paper, and pharmaceuticals. The Goods and Services Tax (GST) rates and HSN code for prepared enzymes are important to know for businesses dealing with these products. In this article, we will discuss everything you need to know about the GST rates and HSN code for prepared enzymes.
Prepared enzymes fall under the category of chemical products and are subject to GST rates. The GST rates for prepared enzymes vary depending on the type of enzyme and its use. The following table lists the GST rates for prepared enzymes:
Type of Enzyme Use GST Rate Proteases and peptones Used in the manufacture of animal feed 5% Other enzymes used in the manufacture of animal feed 18%
GST All types of enzymes Used in other industries18%
As can be seen from the table above, the GST rates for prepared enzymes depend on their use and type. It is important for businesses dealing with prepared enzymes to correctly classify them and determine the appropriate GST rate.
HSN code stands for "Harmonized System of Nomenclature" and is used to classify goods for tax purposes. The HSN code for prepared enzymes is 3507. This code covers:
Businesses dealing with prepared enzymes must use the correct HSN code to avoid any confusion or errors in tax reporting. It is important to note that the HSN code for prepared enzymes is subject to change, and businesses should stay updated on any changes to the code.
Prepared enzymes are an important industrial product in India, and businesses dealing with these products should be aware of the GST rates and HSN code for these products. The GST rates for prepared enzymes depend on their use and type, and it is important for businesses to classify them correctly to determine the appropriate rate. The HSN code for prepared enzymes is 3507, and businesses must use the correct code to avoid any confusion or errors in tax reporting.
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