If you are involved in the import or export of Tungsten Ores and Concentrates, then you need to be aware of the GST rates and HSN code applicable to this product. This article will provide you with all the necessary information about the GST rates and HSN code for Tungsten Ores and Concentrates.
Tungsten is a chemical element with the symbol W and atomic number 74. It is a rare metal and has the highest melting point of all metals. Tungsten is used in various industries, including aerospace, electronics, and construction.
Tungsten ores and concentrates are raw materials used in the production of Tungsten products. These ores and concentrates are obtained through mining and contain a high percentage of Tungsten. They are then processed to extract Tungsten, which is used in the production of various products.
The GST rate for Tungsten Ores and Concentrates is 5%. This rate is applicable to both imported and locally purchased products. It is important to note that the GST rate applies only to the Tungsten content of the ores and concentrates and not to other minerals or impurities that may be present.
The HSN code for Tungsten Ores and Concentrates is 2611. This code is used to classify goods for taxation purposes and is mandatory for all import and export transactions. The code is based on the Harmonized System of Nomenclature (HSN) and is used globally.
Knowing the GST rates and HSN code for Tungsten Ores and Concentrates is essential for all businesses involved in the import or export of this product. The information provided in this article should help you in understanding the tax implications of trading in Tungsten ores and concentrates.
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