No need to pay GST on sale of Fresh Lobsters

Posted on 11 April 2023 Category : GST exemptions

Fresh Lobsters attracts no GST

Is fresh lobsters is exempted to pay GST? Any GST concession on sale of fresh lobsters? Should I need to pay GST on my product fresh lobsters?

GST tax on Fresh Lobsters under HSN chapter 0306

As per GST Law, there is no GST payable on Fresh Lobsters.

So the rate of GST payable on Fresh Lobsters is nil rate.

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. According to GST slabs, the most essential goods and services fall under the exempt list while Commonly used Goods and Services have been put in the lowest tax bracket of 5 per cent. Standard Goods and Services are in 12 per cent tax bracket, the government has kept a large number of items under 18% tax slab. only Special category of Goods and Services including luxury goods fall in the top tax bracket of 28 per cent. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST.

The above details about GST rate tariff on Fresh Lobsters is only for information.

The validity of above information and amendments about GST rate on Fresh Lobsters may be verified before any business dealing.

Click here to know GST rate on Goods and Services

GST Exemption list of goods and services

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Nil rate of GST on sale of Crustaceans whether in shell or not

Waived GST on sale of cooked woodlice

Nil rate tariff GST on sale of cooked shrimp

Nil rate of GST on sale of cooked lobsters