GST scheduled rate on Micronutrients business
What is the present GST rate tariff on Micronutrients? How much GST tax payable on Micronutrients? Present Indian GST charges on Micronutrients?
The below information details about GST slab rate on on Micronutrients
The rate of GST on Micronutrients, which are covered under serial number 1(f) of Schedule 1, Part (A) of the Fertilizer Control Order, 1985 and are manufactured by the manufacturers which are registered under the Fertilizer Control Order, 1985fixed by GST council at the introduction of GST in July, 2017 is 12%
Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively. 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 detail about GST rate tariff on Micronutrients is only for information. The validity of above information and amendments about GST rate on Micronutrients may be verified before any business dealing.
In this article, I have explained about Micronutrients. Request you to share your GST experience in Macronutrient stubbiness. You can also add more information about GST tax impact in Micronutrients business. Share your views about GST impact on Micronutrients business industry.
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