Waterproof Footwear - GST Rates HSN Code 6401

Waterproof footwear is an essential part of the Indian market, especially during the monsoon season. Shoes that can withstand the heavy rainfall and muddy roads become a necessity to ensure that you're comfortable and safe. However, many people are unaware of the GST rates and HSN code for such products. In this article, we will discuss the GST rates and HSN code for waterproof footwear in India.

What are HSN codes and GST Rates?

HSN codes, also known as Harmonized System of Nomenclature codes, are used to classify goods and products for tax purposes. The codes are used to identify the product category, the type of product, and the applicable tax rate. GST rates, on the other hand, are the taxes levied by the Indian government on the supply of goods and services. The rates for waterproof footwear depend on the HSN code and the product category.

What is the HSN Code for Waterproof Footwear?

The HSN code for waterproof footwear is 6401. The HSN code has 8 digits, with the first two digits representing the product category and the next six digits representing the product type. In the case of waterproof footwear, the product category is 64, which represents footwear with outer soles of rubber, plastics, leather, or composition leather and uppers of textile materials.

What are the GST Rates for Waterproof Footwear?

The GST rates for waterproof footwear vary depending on the material used for the outer sole and the upper. The rates are as follows:

1. 18% GST on waterproof footwear with an outer sole made of rubber, plastic, or composition leather and uppers of textile materials

2. 5% GST on waterproof footwear with an outer sole and upper made of rubber, plastic, or composition leather

3. 18% GST on waterproof footwear with an outer sole made of leather and uppers of textile materials

4. 5% GST on waterproof footwear with an outer sole and upper made of leather

Why is it Important to Know the GST Rates and HSN Code for Waterproof Footwear?

Knowing the GST rates and HSN code for waterproof footwear is essential, especially for small and medium business owners and startup founders. These individuals need to know the applicable tax rates to ensure that they're pricing their products correctly. Additionally, understanding the HSN code helps them to classify their products correctly when filing their taxes.

Conclusion

Waterproof footwear is a crucial product for the Indian market, especially during the monsoon season. Understanding the GST rates and HSN code for such products is essential for small and medium business owners and startup founders. The information provided in this article will help these individuals to classify their products and price them correctly.