GST Rates HSN Code 1201 - Soya Beans

Soya beans are one of the most versatile crops in the world. They are packed with protein, vitamins, and minerals, and are the foundation for many foods around the world. In India, soya beans are an important crop for farmers and are used in a variety of dishes, from daal to tofu.

What is the HSN code for Soya Beans?

The Harmonized System of Nomenclature (HSN) is a system of classification used to categorize goods in international trade. Soya beans are categorized under HSN code 1201.

What is the GST rate on Soya Beans?

The Goods and Services Tax (GST) is a tax levied on the supply of goods and services in India. The GST rate on Soya Beans is 5%. This rate is applicable to all forms of soya beans, including raw, cooked, or processed soya beans.

Why is Soya Bean important for Indian small and medium business owners?

Soya beans are an essential ingredient in many food products, making them an important commodity for small and medium business owners in the food industry. The versatility of soya beans allows for a wide range of products to be made from them, including tofu, soya milk, and a variety of other vegetarian and vegan food products.

Additionally, soya beans are an important crop for farmers in India. The crop is relatively easy to grow and can be grown in a variety of soil types. This makes it an attractive crop for small farmers who are looking to diversify their crops and increase their yields.

How are Soya Beans used?

Soya beans are used in a wide range of food products around the world. In India, soya beans are commonly used in daal, a traditional Indian lentil soup. Soya beans are also used to make tofu, soya milk, and a variety of other vegetarian and vegan food products.

In addition to their use in the food industry, soya beans are also used in a variety of non-food products. For example, soya bean oil is used in the production of biodiesel, and soya bean meal is used as animal feed.

Conclusion

Soya beans are an important crop for farmers and a versatile ingredient for small and medium business owners in the food industry. With a low GST rate of 5%, soya beans are an attractive commodity for those looking to diversify their crops or create new food products.