Understanding GST Rates and HSN Code for Fish, Dried, Salted, Brine, Smoked in India

As a small or medium business owner in India, you may be wondering about the GST rates and HSN code for Fish, Dried, Salted, Brine, Smoked. In this article, we will provide an in-depth analysis of these taxes and codes to help you better understand how they apply to your business.

What is GST?

GST, or Goods and Services Tax, is a tax on the supply of goods and services in India. It is an indirect tax, meaning it is not paid directly by the consumer, but rather by the business selling the goods or services. GST was implemented in India on July 1, 2017, to replace the previous system of multiple indirect taxes.

GST Rates for Fish, Dried, Salted, Brine, Smoked

The GST rate for Fish, Dried, Salted, Brine, Smoked is 5%. This rate is applicable to all types of fish, including fresh, dried, salted, brine, and smoked.

HSN Code for Fish, Dried, Salted, Brine, Smoked

HSN stands for Harmonized System of Nomenclature, and it is an internationally recognized system for classifying goods. Each good is assigned a unique HSN code based on its nature, composition, and use. The HSN code for Fish, Dried, Salted, Brine, Smoked is 0305.

Explanation of HSN Code 0305

The HSN code 0305 is used to classify Fish, Dried, Salted, Brine, Smoked. This code is broken down into several subheadings to provide more detail on the type of fish being classified.

The first two digits of the code, 03, indicate that the goods are classified under the heading of Fish and Crustaceans, Molluscs and other aquatic invertebrates. The third digit, 0, indicates that the goods are classified under the subheading of Fish, fresh or chilled.

The fourth digit, 5, indicates that the goods are classified under the subheading of Fish, dried, salted or in brine; smoked fish, whether or not cooked before or during the smoking process; flours, meals and pellets of fish, fit for human consumption. This is the subheading that applies to Fish, Dried, Salted, Brine, Smoked.

Conclusion

As a small or medium business owner in India, it is important to understand the GST rates and HSN codes that apply to your products. Fish, Dried, Salted, Brine, Smoked are classified under HSN code 0305 and are subject to a GST rate of 5%. By following these rules and regulations, you can ensure that your business is in compliance with the law and avoid any penalties or fines.