Shellac attracts no GST
Is GST payable on sale of Shellac. What is the concessional rate of GST on Shellac? I am a Shellac dealer. Should I need to pay GSTon my product?
GST tax on Shellac under HSN chapter 1301
As per GST Law, there is no GST payable on Shellac.
So the rate of GST payable on Shellac is nil rate.
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.
The above details about GST rate tariff on Shellac is only for information.
The validity of above information and amendments about GST rate on Shellac may be verified before any business dealing.
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