GST levied rate on Groundnut oil and its fractions
How much GST tax payable on Groundnut oil and its fractions? Present Indian GST charges on Groundnut oil and its fractions? Goods and Service Tax rate for Groundnut oil and its fractions?
Here let us discuss about GST imposed rate on Groundnut oil and its fractions
The GST Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods. 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.
The rate of GST on Groundnut oil and its fractions, whether or not refined, but not chemically modified. Fixed by GST council at the introduction of GST in July, 2017 is 5%
Groundnut oil and its fractions, whether or not refined, but not chemically modified. Falls under GST HSN code number 1508
This detail about GST rate tariff on Groundnut oil and its fractions is only for information.
The validity of above information and amendments about GST rate on Groundnut oil and its fractions may be verified before any business dealing.
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