Mica is a versatile mineral that has numerous industrial applications. It is a naturally occurring mineral that can be easily split into thin sheets, making it an ideal material for electrical insulation, construction materials, and decorative purposes.
Worked mica is a form of mica that has been processed or fabricated for specific applications. It is used in a wide range of products such as capacitors, heating elements, and insulators.
The Goods and Services Tax (GST) is an indirect tax that is levied on the supply of goods and services in India. The GST rates for worked mica are as follows:
1. 5% GST is levied on worked mica that has been cut or shaped, but not further worked
2. 18% GST is levied on worked mica that has been further worked, including engraved, polished, or painted mica
If you are a small business or a startup that deals with worked mica products, it is important to understand the applicable GST rates to ensure compliance with the law.
HSN stands for Harmonized System of Nomenclature, which is a standardized system for classifying goods for taxation purposes. The HSN code for worked mica is 6814.
The HSN code for worked mica is important for businesses as it determines the applicable GST rates for their products. If you are unsure about the HSN code for your worked mica products, you can consult a tax expert or refer to the GST portal for more information.
Understanding the GST rates and HSN code for worked mica is essential for businesses that deal with this material. By knowing the applicable rates and codes, businesses can ensure compliance with the law and avoid any penalties or fines.
If you are a small business or a startup that deals with worked mica products, it is recommended that you seek professional advice to ensure compliance with the law.
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