Synthetic Rubber Factors Derived Oils - GST RATES HSN CODE 4002

Synthetic Rubber and Factice Derived Oils are widely used in a variety of industries, including automotive, construction, and healthcare. In India, synthetic rubber falls under the ambit of GST and has an HSN code of 4002. In this article, we will delve into the GST rates and HSN code for Synthetic Rubber and Factice Derived Oils.

Firstly, let's understand what Synthetic Rubber and Factice Derived Oils are. Synthetic rubber is a type of rubber that is artificially produced by polymerization, whereas Factice Derived Oils are obtained from the coagulated latex of rubber trees. These oils are used as softeners and extenders in rubber products.

Moving on to GST rates, the GST on Synthetic Rubber and Factice Derived Oils is 18%. This rate is applicable to all types of synthetic rubber, including butadiene rubber, styrene-butadiene rubber, and isoprene rubber. The rate is also applicable to all types of Factice Derived Oils, including factice derived from oils like castor oil, linseed oil, and rapeseed oil

Now, let's explore the HSN code for Synthetic Rubber and Factice Derived Oils. Synthetic Rubber falls under HSN code 4002, which covers synthetic rubber and factice derived from oils. This code is divided into several subheadings based on the type of synthetic rubber, such as styrene-butadiene rubber (4002 20 00), butadiene rubber (4002 49 00), and isoprene rubber (4002 51 00).

Similarly, the subheadings for Factice Derived Oils are based on the type of oil used to derive the factice, such as castor oil (4002 81 10), linseed oil (4002 81 20), and rapeseed oil (4002 81 30).In conclusion, Synthetic Rubber and Factice Derived Oils are essential components of various products across several industries. The GST rate for these products is 18%, and the HSN code for Synthetic Rubber is 4002. It is worth noting that the HSN code for Factice Derived Oils falls under the same category. Understanding these codes and rates is crucial for small and medium business owners and startup founders who deal with these products.