Are you a business owner or startup founder dealing with wigs or false beards of human or animal? If yes, then it is important for you to know the GST rates and HSN code for these products. This knowledge can be helpful in managing your finances and taxes more effectively.
Wigs and false beards are accessories that are used to change one's appearance. They are commonly used in the entertainment industry, fashion, and as a part of cultural or religious practices. Wigs and false beards made of human or animal hair are usually more expensive than synthetic ones.
The GST rates for wigs, false beards of human or animal, and similar articles under HSN code 6704 are 12%.
The HSN code for wigs, false beards of human or animal, and similar articles is 6704.
Under HSN code 6704, wigs, false beards of human or animal, and similar articles are classified into groups based on the following criteria:
Group 1: Wigs, false beards, eyebrows, and eyelashes made of synthetic textile materials, regardless of whether they are finished or not.
Group 2: Wigs, false beards, eyebrows, and eyelashes made of human or animal hair or any other material, whether or not they are finished.
Group 3: Hairnets, hair slings, and similar articles, whether or not they are finished.
Knowing the GST rates and HSN code for wigs and false beards of human or animal can help you manage your business finances better. Make sure you classify the products correctly and pay the right amount of GST. For any further information, you can visit the official GST portal or consult a tax professional.
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