Gitti HSN Code
GST rates and HSN code for Gitti.
| Chapter | Description | HSN Code | Rate (%) | CESS (%) | Effective Date | Rate Revision |
|---|---|---|---|---|---|---|
| Mineral Products-Salt; sulphur; earths and stone; plastering materials, lime and cement | Granite, Porphyry, Basalt, Sandstone And Other Monumental Or Building Stone, Whether Or Not Roughly Trimmed Or Merely Cut, By Sawing Or Otherwise, Into Blocks Or Slabs Of A Rectangular (Including Square) Shape – Other Monumental Or Building Stone: Other | 25169090 | 5% | – | 01/07/2017 | – |
| Pebbles, Gravel, Broken Or Crushed Stone, Of A Kind Commonly Used For Concrete Aggregates, For Road Metalling Or For Railway Or Other Ballast, Shingle And Flint, Whether Or Not Heat-Treated; Macadam Of Slag, Dross Or Similar Industrial Waste, Whether Or N | 25171010 | 5% | – | 01/07/2017 | – |
Understand the Right HSN Code for Laptops
Laptops are a staple of modern life, essential for work, education, and entertainment. Whether you are a retailer, distributor, or a business owner buying a new laptop for your company, understanding the correct HSN code is vital for GST compliance. Let’s delve into the HSN code and GST rate for laptops and related computer equipment.
Classify Your Laptop
The HSN code for laptops falls under Chapter 84, which is for “Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof.” Within this chapter, laptops are categorized as “Automatic data processing machines and units thereof.”
The 4-digit HSN code for all computers, including laptops, is 8471. This broad category covers a wide range of devices that can store, process, and output data.
For a laptop specifically, the 6-digit HSN code is 847130, which is for “Portable digital automatic data processing machines, weighing not more than 10 kg, consisting of at least a central processing unit, a keyboard and a display.” The 8-digit HSN code that is most commonly used for laptops is 84713010 or 84713090, depending on the specific type of machine.
Understand the Applicable GST Rate
The GST rate for a laptop is 18%. This rate applies to the entire machine, including all its built-in components like the CPU, screen, keyboard, and storage. This rate is a standard for many electronic goods and has been in effect since the implementation of GST in 2017.
It’s important to know that this rate is applicable to both domestically manufactured and imported laptops. This uniform tax structure has replaced the previous system of multiple taxes like VAT and excise duty, simplifying the taxation process.
HSN Codes for Laptop Accessories and Parts
When it comes to laptop parts and accessories, the HSN code may vary, but most fall under Chapter 84 as well.
- Input/Output Units: Devices like keyboards and mice are classified under HSN 847160.
- Storage Units: External hard drives and pen drives fall under HSN 847170.
- Motherboards and other internal parts: These are often classified as parts and accessories of automatic data processing machines under HSN 8473.
Most of these accessories and parts also attract an 18% GST rate. It’s crucial to classify each item correctly when sold separately to ensure accurate billing and tax filing.
Claim Input Tax Credit (ITC)
For businesses registered under GST, purchasing a laptop for business use allows them to claim Input Tax Credit (ITC) on the 18% GST paid. This can significantly reduce the overall cost of the asset. To claim ITC, the business needs a GST-compliant invoice from the seller that clearly mentions the HSN code and the GST amount.
By understanding the HSN code and the applicable GST rate, businesses can ensure they are fully compliant with GST regulations and can effectively manage their taxes.
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