GST imposed rate on purchase or sale of Natural gums, resins, gum resins and oleoresins
What is the present GST rate tariff on Natural gums, resins, gum resins and oleoresins? How much GST tax payable on Natural gums, resins, gum resins and oleoresins? Present Indian GST charges on Natural gums, resins, gum resins and oleoresins?
Here let us discuss about GST imposed rate on Natural gums, resins, gum resins and oleoresins
The rate of GST on Natural gums, resins, gum resins and oleoresins (for example, balsams), other than lac and shellac. Fixed by GST council at the introduction of GST in July, 2017 is 5%
Natural gums, resins, gum resins and oleoresins (for example, balsams), other than lac and shellac.falls under GST HSN code number 1301
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.
This details about GST rate tariff on Natural gums, resins, gum resins and oleoresins is only for information. The validity of above information and amendments about GST rate on Natural gums, resins, gum resins and oleoresins may be verified before any business dealing.
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