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Published on:
February 25, 2023
By
Pranjal Gupta

Vacuum Flasks - GST Rates  HSN Code 9617

When it comes to GST rates and HSN codes for vacuum flasks, it's important to understand the classifications and rates set by the government. Vacuum flasks are a popular item in India, and knowing the correct rates and codes is crucial for small and medium business owners and startup founders to avoid penalties and fines.

What are vacuum flasks?

Before we delve into GST rates and HSN codes, let's define what vacuum flasks are. Vacuum flasks are insulated containers that keep hot liquids hot and cold liquids cold for extended periods of time. They are commonly used for carrying tea, coffee, and other beverages when traveling or to work. They come in various sizes and shapes and are made of different materials.

GST rates for vacuum flasks

The GST rates for vacuum flasks fall under the 18% tax bracket. This means that businesses selling vacuum flasks will have to pay an 18% tax on their sales. It's important to note that GST rates are subject to change, so it's essential to stay updated on any revisions or changes made by the government.

HSN code for vacuum flasks

The HSN code for vacuum flasks falls under 9617. This code is used to classify vacuum flasks and other similar items. The HSN code is a unique 6-digit code assigned to all goods and services in India for the purpose of taxation. Understanding the HSN code is crucial for businesses as it helps in the proper identification and classification of the goods being sold.

Why is it important to know GST rates and HSN codes for vacuum flasks?

Knowing the correct GST rates and HSN codes for vacuum flasks is essential for small and medium business owners and startup founders to avoid penalties and fines. The government is strict when it comes to tax compliance, and businesses that fail to comply with the GST guidelines can face legal action. Additionally, knowing the correct GST rates and HSN codes ensures that businesses are charging their customers appropriately.

Conclusion

Vacuum flasks are a popular item in India, and understanding the GST rates and HSN codes is crucial for small and medium business owners and startup founders. The GST rates for vacuum flasks fall under the 18% tax bracket, and the HSN code for vacuum flasks is 9617. Knowing these codes helps businesses in proper classification and tax compliance. Stay updated on any changes or revisions made by the government to avoid penalties and fines.

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Updated on:
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