Payable GST on purchase or sale of Synthetic rubber
How much GST tax payable on Synthetic rubber? Goods and Service Tax rate for Synthetic rubber? GST duty payable on Synthetic rubber?
This article explains about the Synthetic rubber.
The rate of GST on synthetic rubber and factice derived from oils, in primary forms or in plates, sheets or strip; mixtures of any product of heading 4001 with any product of this heading, in primary forms or in plates, sheets or strip; such as Latex, styrene butadiene rubber, butadiene rubber (BR), Isobuteneisoprene (butyl) rubber (IIR), Ethylene-propylene Non-conjugated diene rubber (EPDM)fixed by GST council at the introduction of GST in July, 2017 is 18%
Synthetic rubber falls under GST HSN code 4002
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 Synthetic rubber is only for information. The validity of above information and amendments about GST rate on Synthetic rubber may be verified before any business dealing.
I hope, this article can enlighten you on basic idea on Payable GST on Synthetic rubber. You can express your views on Payable GST on Synthetic rubber. Share your views about GST impact on Synthetic rubber business industry.
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