Gst rate on scrap
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 January 2018
Dear Experts,
Rate of GST on Iron & plastic scrap?
Rate of GST on Iron & plastic scrap?
09 January 2018
IGST rate is 18% for iron and 5% for plastic scrap
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Querist : Anonymous
Querist :
Anonymous
(Querist)
09 January 2018
What will be the rate of GST on electronics scrap (Refrigerator, Television, Washing Machine, Micro-oven, Monitor, Air-conditioner)
27 July 2024
### GST Rate on Scrap
#### 1. **Iron and Plastic Scrap**
**Iron Scrap:**
- **HSN Code:** 7204 (for ferrous waste and scrap, including iron scrap)
- **GST Rate:** **18%**
**Plastic Scrap:**
- **HSN Code:** 3915 (for waste, parings, and scrap of plastic)
- **GST Rate:** **18%**
Both iron scrap and plastic scrap fall under the standard GST rate of **18%**.
#### 2. **Electronics Scrap**
**Electronics Scrap** includes a variety of items such as refrigerators, televisions, washing machines, microwave ovens, monitors, and air-conditioners. The treatment of GST for electronics scrap is generally as follows:
**HSN Code for Electronics Scrap:**
- **HSN Code:** 8548 (for waste and scrap of electrical machinery)
- **GST Rate:** **18%**
**Explanation:**
- **Refrigerators, Televisions, Washing Machines, Microwaves, Monitors, and Air-Conditioners** when considered as scrap (i.e., end-of-life or discarded electronics), typically fall under this classification.
- The GST rate applied to such electronics scrap is generally **18%**. This rate is consistent with the treatment of electronic waste and scrap under the broader classification of waste and scrap materials.
### Summary
- **Iron Scrap:** **18% GST**
- **Plastic Scrap:** **18% GST**
- **Electronics Scrap (Refrigerator, Television, Washing Machine, Microwave Oven, Monitor, Air-Conditioner):** **18% GST**
### Key Points
- **Documentation:** Ensure that all transactions involving scrap are properly documented with correct HSN codes and GST rates.
- **Compliance:** Verify that the scrap classification aligns with the latest GST guidelines and notifications.
### Recommendations
- **Consult GST Professional:** For accurate GST application, especially if dealing with large volumes or specialized types of scrap, consult with a GST professional or tax advisor to ensure compliance with the latest regulations and practices.
By following these guidelines, you can correctly apply GST rates to various types of scrap materials.
#### 1. **Iron and Plastic Scrap**
**Iron Scrap:**
- **HSN Code:** 7204 (for ferrous waste and scrap, including iron scrap)
- **GST Rate:** **18%**
**Plastic Scrap:**
- **HSN Code:** 3915 (for waste, parings, and scrap of plastic)
- **GST Rate:** **18%**
Both iron scrap and plastic scrap fall under the standard GST rate of **18%**.
#### 2. **Electronics Scrap**
**Electronics Scrap** includes a variety of items such as refrigerators, televisions, washing machines, microwave ovens, monitors, and air-conditioners. The treatment of GST for electronics scrap is generally as follows:
**HSN Code for Electronics Scrap:**
- **HSN Code:** 8548 (for waste and scrap of electrical machinery)
- **GST Rate:** **18%**
**Explanation:**
- **Refrigerators, Televisions, Washing Machines, Microwaves, Monitors, and Air-Conditioners** when considered as scrap (i.e., end-of-life or discarded electronics), typically fall under this classification.
- The GST rate applied to such electronics scrap is generally **18%**. This rate is consistent with the treatment of electronic waste and scrap under the broader classification of waste and scrap materials.
### Summary
- **Iron Scrap:** **18% GST**
- **Plastic Scrap:** **18% GST**
- **Electronics Scrap (Refrigerator, Television, Washing Machine, Microwave Oven, Monitor, Air-Conditioner):** **18% GST**
### Key Points
- **Documentation:** Ensure that all transactions involving scrap are properly documented with correct HSN codes and GST rates.
- **Compliance:** Verify that the scrap classification aligns with the latest GST guidelines and notifications.
### Recommendations
- **Consult GST Professional:** For accurate GST application, especially if dealing with large volumes or specialized types of scrap, consult with a GST professional or tax advisor to ensure compliance with the latest regulations and practices.
By following these guidelines, you can correctly apply GST rates to various types of scrap materials.
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