Small and medium businesses in India often find it difficult to keep up with the numerous GST rates and HSN codes applicable to their products. In this article, we will be discussing the GST rates and HSN code for Tin Ores and Concentrates. This will help you ensure that your business is compliant with the law and that you are collecting the right amount of tax.
Tin Ores are rocks that contain tin in concentrations that make it economically viable to extract the metal. Tin is commonly used in the manufacture of electronics, including circuit boards and packaging materials. Tin concentrates are the raw materials that are obtained after extracting tin ore from the ground. These concentrates are then processed to extract the tin metal.
The GST rates for Tin Ores and Concentrates are as follows:
HSN Code Item Description GST Rate2609Tin Ores and Concentrates5%
As per the GST Council's decision, all ores and concentrates are to be taxed at a uniform rate of 5% under the GST regime. This includes Tin Ores and Concentrates.
The HSN code for Tin Ores and Concentrates is 2609. The HSN code is a internationally recognized system for classifying goods and services for taxation purposes. It is used by businesses to determine the appropriate GST rates that apply to their products.
In conclusion, if you are a small or medium business owner in India that deals with Tin Ores and Concentrates, it is important to be aware of the GST rates and HSN code applicable to your products. This will help you avoid any potential compliance issues and ensure that you are collecting the right amount of tax. Remember, compliance with the law is crucial for the long-term success of your business.
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