GST payable rate on purchase or sale of Molasses

Posted on 19 April 2023 Category : GST rate

GST levied rate on Molasses business

How much GST tax payable on Molasses? Present Indian GST charges on Molasses? Goods and Service Tax rate for Molasses?

The below information details about GST rate tariff on Molasses

The rate of GST on Molasses fixed by GST council at the introduction of GST in July, 2017 is 28%

Molasses falls under GST HSN code number 1703

GST Council decide 4 main GST Rates Slabs for India. Now GST Rates are finalised i.e GST Rates in India is 5%, 12%, 18% & 28%. Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%. The most essential goods and services attract nil rate of GST under Exempted Categories. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST.

This details about GST rate tariff on Molasses is only for information. The validity of above information and amendments about GST rate on Molasses may be verified before any business dealing.

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