The Goods and Services Tax (GST) in India has resulted in a lot of changes in the tax structure of various products. One such product is rubber thread cord. Rubber thread cord is used in various industries, including textiles and apparel, medical, and industrial applications. In this article, we will discuss the GST rates and HSN code of rubber thread cord.
The GST rates for rubber thread cord are as follows:
1. HSN Code - 5604
2. GST Rate - 18%
As per the GST council meeting held on December 22, 2018, the GST rate for rubber thread cord has been reduced from 28% to 18%. This reduction in GST rate is expected to provide relief to the rubber thread cord industry.
The HSN code for rubber thread cord is 5604. HSN stands for Harmonized System of Nomenclature, which is a system of classification of goods.
The HSN code of a product is used for various purposes, such as taxation, trade, and statistics. The HSN code for rubber thread cord falls under the category of textile products and articles.
In summary, the GST rate for rubber thread cord is 18% and the HSN code for rubber thread cord is 5604. This reduction in GST rate is expected to provide relief to the rubber thread cord industry. Business owners and startup founders dealing with rubber thread cord should ensure that they are aware of the GST rates and HSN code for the product to avoid any potential issues.
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