India is one of the largest producers of Wheat and Meslin in the world. Wheat is the staple grain crop used in India for daily food needs, while Meslin is used for animal feed. Wheat and Meslin are classified under the HSN code 1001 under the GST (Goods and Services Tax) regime.
The GST rates for Wheat and Meslin vary according to the type and usage of the product. The following table shows the applicable GST rates for different types of Wheat and Meslin:
Type of Wheat/MeslinGST RateWheat and MeslinNilWheat Flour (Atta)5%Wheat Bran5%Wheat Semolina (Suji, Rava)5%Meslin Flour5%Wheat Germ5%Wheat Starch18%
As per the above table, Wheat and Meslin are exempt from GST. However, Wheat Flour (Atta), Wheat Bran, Wheat Semolina (Suji, Rava), Meslin Flour, Wheat Germ, and Wheat Starch attract different GST rates ranging from nil to 18%. Business owners dealing in these products need to know the applicable GST rates to file their GST returns accurately.
The HSN (Harmonized System of Nomenclature) code is a standardized system used to classify goods and services for taxation purposes under GST. The HSN code for Wheat and Meslin is 1001. The HSN code classification depends on the type and usage of the product.
The HSN code for Wheat Flour (Atta) is 1101, the HSN code for Wheat Bran is 2302, the HSN code for Wheat Semolina (Suji, Rava) is 1102, and the HSN code for Meslin Flour is 1103. The HSN code for Wheat Germ is 1104, and the HSN code for Wheat Starch is 1108.
Business owners need to ensure that they use the correct HSN code for their products while filing GST returns. Any error in the HSN code may lead to tax penalties and legal repercussions.
Wheat and Meslin are essential commodities in India, and the GST taxation process for these products is crucial for business owners. The applicable GST rates and HSN codes for different types of Wheat and Meslin are listed above. Business owners need to be aware of these rates and codes to file their GST returns accurately and avoid any legal repercussions.
We hope this article has provided you with a comprehensive understanding of the GST taxation process for Wheat and Meslin in India.
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