Understanding GST Rates and HSN Code for Knotted Netting of Twine, Cordage, or Rope - 5608

As a small or medium business owner or a startup founder in India, it is crucial to be aware of the various GST rates and HSN codes applicable to your products or services. This knowledge can help you accurately calculate the tax liabilities and avoid any legal issues.

In this article, we will discuss the GST rates and HSN code for Knotted Netting of Twine, Cordage, or Rope.

What is Knotted Netting of Twine, Cordage, or Rope?

Knotted Netting of Twine, Cordage, or Rope is a type of netting made by knotting twine, cordage, or rope together. It is used for a variety of purposes, such as fishing nets, cargo nets, sports nets, and safety nets.

What is HSN Code?

The Harmonized System of Nomenclature (HSN) Code is an internationally recognized system of names and numbers used to classify goods in international trade. The HSN code is used to identify the products and services for GST purposes in India.

What is GST?

GST stands for Goods and Services Tax. It is a tax on the supply of goods and services that is levied at every stage of the supply chain from the manufacturer to the consumer. GST has replaced multiple indirect taxes such as excise duty, service tax, and VAT.

What is the GST Rate for Knotted Netting of Twine, Cordage, or Rope (HSN Code 5608)?

The GST rate for Knotted Netting of Twine, Cordage, or Rope (HSN Code 5608) is 12%. This means that if you are selling Knotted Netting of Twine, Cordage, or Rope, you will have to charge 12% GST on the selling price. Similarly, if you are purchasing Knotted Netting of Twine, Cordage, or Rope, you will have to pay 12% GST on the purchase price.

Conclusion

As a business owner or a startup founder, it is essential to be aware of the GST rates and HSN codes applicable to your products or services. The GST rate for Knotted Netting of Twine, Cordage, or Rope (HSN Code 5608) is 12%. This means that if you are selling or purchasing Knotted Netting of Twine, Cordage, or Rope, you will have to pay 12% GST on the selling or purchase price. We hope that this article has helped you understand the GST rates and HSN code for Knotted Netting of Twine, Cordage, or Rope.