WRIST WATCHES ELECTRONIC - GST RATES HSN CODE 9102

Wrist-watches electronic are considered an essential accessory for both men and women. They are not just used for timekeeping purposes but also as a fashion statement. If you are an Indian Small and Medium Business owner or Startup founder selling wrist-watches electronic, it is essential to understand the GST rates and HSN code for your products. This article will provide you with all the necessary information you need to know regarding GST rates and HSN code for wrist-watches electronic.

HSN Code for Wrist-Watches Electronic

HSN stands for Harmonized System of Nomenclature, and it is a six-digit code used to classify goods. The HSN code for wrist-watches electronic is 9102. This code is used to identify the type of product and is essential while filing GST returns.

Wrist-watches electronic are classified under Chapter 91 - Clocks and Watches and parts thereof. This chapter includes a wide variety of clocks and watches, including wrist-watches electronic, pocket watches, wall clocks, etc.

GST Rates for Wrist-Watches Electronic

GST stands for Goods and Services Tax, and it is a tax levied on the supply of goods and services in India. The GST rates for wrist-watches electronic are as follows:

18% GST is applicable to wrist-watches electronic. This includes both the watch and the straps or bands.
12% GST is applicable to the watch cases made of precious metals, such as gold or silver.
5% GST is applicable to the repair and maintenance services of watches.

It is essential to note that the GST rates mentioned above are subject to change as per the government's policies. Hence, it is crucial to stay updated with the latest GST rates and HSN codes for your products.

Conclusion

Wrist-watches electronic are a popular accessory in India, and they are widely used by people of all ages. As a business owner, it is essential to understand the GST rates and HSN code for your products to avoid any legal complications. The HSN code for wrist-watches electronic is 9102, and the GST rates are 18% for the watches and straps, 12% for watch cases made of precious metals, and 5% for repair and maintenance services.

By understanding these rates and codes, you can ensure that you are filing your GST returns accurately and avoid any legal issues. We hope this article has provided you with all the necessary information you need to know regarding GST rates and HSN code for wrist-watches electronic.