As a small or medium business owner in India, it is important to understand the GST rates and HSN codes for your products. In this article, we will be discussing Reclaimed Rubber, its GST rates, and HSN code 4003.
Reclaimed Rubber is a type of rubber that is produced by recycling scrap rubber. This process involves shredding the scrap rubber, then treating it with chemicals to remove any impurities. The resulting rubber can be used in a variety of applications, including the production of tires, footwear, and other rubber products.
The GST rates for Reclaimed Rubber are set by the government of India. The current GST rate for Reclaimed Rubber is 18%.
The HSN code for Reclaimed Rubber is 4003. HSN codes are used to classify goods and services for taxation purposes. The HSN codes for different goods and services are listed in the GST Tax Rate Schedule.
To calculate the GST for Reclaimed Rubber, you need to know the taxable value of the product. The taxable value is the value of the product after deducting any discounts, subsidies, or other exemptions. After you have the taxable value, you can calculate the GST by multiplying the taxable value by the GST rate of 18%.
Reclaimed Rubber is an important product in the rubber industry, and understanding its GST rates and HSN code is essential for small and medium business owners in India. With the information provided in this article, you can ensure that you are properly accounting for Reclaimed Rubber in your business.
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