gst rate
This query is : Resolved
27 July 2024
Here's the GST rate information for the items you mentioned:
### **1. Old Gunny Bags**
- **GST Rate**: **5%** (2.5% CGST + 2.5% SGST)
- **HSN Code**: **6305**
Old gunny bags fall under this HSN code as they are considered used or waste products in the context of recycling and repurposing.
### **2. Jute Gunny Bags**
- **GST Rate**: **0%**
Jute gunny bags are exempt from GST due to their classification under essential items or items used in agricultural processes, which are often exempt to support the agricultural sector.
### **3. Cotton Sack**
- **GST Rate**: **12%** (6% CGST + 6% SGST)
- **HSN Code**: **6301**
Cotton sacks fall under this HSN code, and the applicable GST rate for these items is 12% as per the GST tariff.
### **Relevant Notifications:**
- **Notification No. 2/2017-Central Tax (Rate)** for exemptions and GST rates on certain goods.
- **Notification No. 1/2017-Central Tax (Rate)** and **Notification No. 11/2017-Central Tax (Rate)** cover the GST rates applicable to different goods and services.
### **Summary:**
- **Old Gunny Bags**: 5%
- **Jute Gunny Bags**: Exempt
- **Cotton Sacks**: 12%
Make sure to verify these rates against the latest GST notifications or consult with a tax advisor for the most accurate and up-to-date information.
### **1. Old Gunny Bags**
- **GST Rate**: **5%** (2.5% CGST + 2.5% SGST)
- **HSN Code**: **6305**
Old gunny bags fall under this HSN code as they are considered used or waste products in the context of recycling and repurposing.
### **2. Jute Gunny Bags**
- **GST Rate**: **0%**
Jute gunny bags are exempt from GST due to their classification under essential items or items used in agricultural processes, which are often exempt to support the agricultural sector.
### **3. Cotton Sack**
- **GST Rate**: **12%** (6% CGST + 6% SGST)
- **HSN Code**: **6301**
Cotton sacks fall under this HSN code, and the applicable GST rate for these items is 12% as per the GST tariff.
### **Relevant Notifications:**
- **Notification No. 2/2017-Central Tax (Rate)** for exemptions and GST rates on certain goods.
- **Notification No. 1/2017-Central Tax (Rate)** and **Notification No. 11/2017-Central Tax (Rate)** cover the GST rates applicable to different goods and services.
### **Summary:**
- **Old Gunny Bags**: 5%
- **Jute Gunny Bags**: Exempt
- **Cotton Sacks**: 12%
Make sure to verify these rates against the latest GST notifications or consult with a tax advisor for the most accurate and up-to-date information.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Non receipt of net payment but TDS filed later and ITR revised return not filed
- Presumptive tax individual
- GST implication in case of Proprietor
- Difference in invoice
- Share trading activity as Business income
- Due diligence of NBFC (To raise Investment from Lender)
- Trade Union Income tax Return
- Regarding recollect the GST Pre-Deposit made for appeal
- PTEC Challan not reflecting in Payment History
- Trade Union Income Heads Classification
- What is GRN
- Compound Journal entry
- What is meant by consumable stores
- Which type entries may be done by Journal entriers
- Which Type of entries routed by Journal entry
- Why make double effects of Journal entry
- Is materials purchased in cash 50,00,000/- acceptable or not
- GST AMNESTY rectification or spl 02
- Residential Real Estate Project
- Wrong name entered in CSR-1 of a Society
Trending Online Classes
CAclubindia
