Pencil gst rate

The HSN code divides the GST rate for writing instruments, pens, and paper among various HSN code chapters. All goods & services are, however, subject to tax in one of five brackets: 0%, 5%, 12%, 18%, and 28%. Introduction The GST system will take over the taxation prices & procedures as of July 1st, 2017, when the GST portal went live. All Indian businesses began modifying the process for GST taxation, including the GST registration and GST filing processes. ( GST Rate on Pens and Stationery Items Pens and the majority of stationery items are under chapter 96 of the The following pens and stationery are subject to a 12% GST. • Other than fountain and stylograph pens, pens • Writing or drawing chalks, pastels, drawing charcoals, pencils, crayons, and tailor’s chalk The following pens and stationery items are subject to a GST tax rate of 18%. • Prepared knots and tufts for forming brooms or brushes; paint pads and rollers; squeegees; hand-operated mechanical floor sweepers that are not motorised; brushes (including brushes that are parts of machinery, appliances, or vehicles); and mops and feather dusters • A hand riddle and a hand sieve Various pens, including fountain pens and stylographs • Boards with a surface for writing or sketching, whether or whether they are framed. • Toner, whether they are colored, including or without cases; typewriter or comparable ribbons, whether they are upon spools or in cartridges, marked and otherwise ready for giving impressions. • Tripo...

Chapter 42 Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silk-worm gut). Heading Raw Hides and Skins, Leather, Furskins and Articles thereof; saddlery and Harness; travel goods, Handbags and similar Containers; Articles of animal gut (other than silk-worm Gut) . Chapter 85 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles.. Heading Machinery and Mechanical Appliances; Electrical Equipment; Parts thereof; sound Recorders and Reproducers, Television Image and Sound Recorders and reproducers, Television Image and sound Recorders and Reproducers, and Parts and Accessories of such article . Chapter 84 Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof.. Heading Machinery and Mechanical Appliances; Electrical Equipment; Parts thereof; sound Recorders and Reproducers, Television Image and Sound Recorders and reproducers, Television Image and sound Recorders and Reproducers, and Parts and Accessories of such article . Chapter 86 Railway or tramway locomotives, rolling-stock and parts thereof; railway or tramway track fixtures and fittings and parts thereof; mechanical (including electro-mechanical) traffic signalling equipment of all kinds.. Heading Vehicles, Aircraft, Vessels and Associated Transport Equipment . Other than : "Other than" Tag in...

The CBIC has issued notification to provide that pencil sharpeners shall be taxable at 12%. The rate on pencil sharpeners has been reduced from 18% to 12%. Also the rate on pre-packaged and labelled Rab shall be 5%. Recently, the GST Council has recommended a reduction in the rate of rab considering it a liquid form of jaggery. This notification shall be effective from 1st March, 2023. Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any. Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava. The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content: • The statutory material is obtained only from the authorized and reliable sources • All the latest developments in the judicial and legislative fields are co...

Exemption on coal rejects supplied by and to the washeries was also approved by the Council. However, no decision could be arrived at by the fitment committee for SUVs and MUVs. During the GST Council meeting, Sitharaman spoke about setting up appellate tribunals and curbing tax evasion in pan masala and gutkha businesses. Talking about the appellate tribunals, FM Sitharaman said the GoM report has been agreed to and slight modifications are required in the report. “GST on pencil sharpeners has come down from 18% to 12%. Also, there is a reduction in GST on tags tracking devices or data loggers which are affixed on durable containers, from 18% to nil, subject to some conditions,” Sitharaman said during a press conference. Finance Minister Nirmala Sitharaman said on Saturday that the entire GST compensation cess for June 2022 totalling Rs 16,982 crore will be cleared. She said this while addressing a press conference soon after the 49th meeting of the GST Council ended. She also informed that Rs 16,524 crore to six states which have submitted the accountant general's (AG) certificate will also be released. Delhi, Tamil Nadu and Telangana are among the six states which have submitted AG certificates. Though submission of AG certificate is a requirement for the states to seek GST compensation, Sitharaman said that it wasn't a strict pre-requisite, as 90 per cent of funds are anyway released to the states, while the remaining amount is given after the AG certificate is submitt...

Understanding GST on Educational Materials like Pencil, Eraser, Pen, etc. In India, the Goods and Services Tax (GST) is a comprehensive tax on manufacturing, sale, and consumption of goods and services. It replaces multiple indirect taxes that were earlier levied on goods and services, including excise duty, service tax, and value-added tax (VAT). The GST system was implemented in India on 1st July 2017, with the aim of creating a unified national market and simplifying the taxation process. One of the major concerns of business owners and consumers is the GST on educational materials like pencils, erasers, pens, notebooks, and textbooks. In this article, we will discuss the details of GST on educational materials and provide you with a clear understanding of how it works. What Is GST on Educational Materials? Under GST, educational materials fall under the 12% tax slab. This includes items like pencils, erasers, pens, notebooks, and textbooks. Educational materials are classified under Chapter 48 of the GST Tariff, which covers paper and paperboard, articles of paper pulp, paper, and paperboard. The GST rate on educational materials was initially set at 18%, but it was later reduced to 12% in November 2017. Impact of GST on Educational Materials The implementation of GST has had a significant impact on the educational materials industry. While some products like notebooks and textbooks are exempt from GST, other items like pencils, pens, and erasers are not. This has led ...

PENCILS - GST RATES HSN CODE 9609 As a small or medium business owner or startup founder in India, it’s important to understand the GST rates and HSN codes for the products you sell. One such product is pencils, which fall under the category of stationery items. Let’s take a closer look at the GST rates and HSN code for pencils. What Is GST? GST stands for Goods and Services Tax, which is a comprehensive tax levied on the supply of goods and services in India. It has replaced multiple indirect taxes like excise duty, VAT, and service tax, simplifying the tax structure and making it easier to do business in India. What Is an HSN Code? HSN stands for Harmonized System of Nomenclature, which is a standardized system of names and numbers used worldwide to classify goods in international trade. It’s a code that helps identify the product and its corresponding tax rate. GST Rates for Pencils The GST rate for pencils is 12%, which falls under the 12% tax slab. This rate is applicable to all kinds of pencils, including graphite pencils, mechanical pencils, colored pencils, and erasable pencils. However, if the pencils are imported from other countries, an Integrated GST (IGST) of 12% is applicable instead of the Central GST (CGST) and State GST (SGST) that are applicable for domestic sales. HSN Code for Pencils The HSN code for pencils is 9609. This code is used to classify pencils and other writing or drawing instruments and accessories. The HSN code for pencils is further broken...

Finance Ministry has notified changes in the GST system for pencil sharpeners, jaggery and examination institutions, as recommended by GST Council in its meeting on February 18. A notification dated February 28 says the GST rate on pencil sharpeners will be 12 per cent from March 1. Earlier, it was 18 per cent. This issue became contentious after the Authority for Advance Ruling (AAR) ruling, and various organisations raised the rate hike last year. In a ruling, Gujarat AAR said that a pencil sold with a sharpener would attract higher GST than a only a pencil sold alone since the sale of pencil and sharpener together is a ‘mixed supply’. Businesses either supply goods or services alone, or bundle goods and/ or services. The bundled supplies are categorised into two – mixed supply and composite supply. While the former talks about mixed supply refers to the supply of two or more goods and/or supplies together at a single price, and each of them can be supplied separately, composite supply the latter refers to a supply consisting of two or more goods or services or both, which are naturally bundled and supplied in conjunction with each other in the ordinary course of business, and one of which is a principal supply. The tax liability in case of mixed supply is fixed on the basis of goods or services with the highest rate. In the case of composite supply, one good or service is taken as a principal supply, and the tax rate for which will apply to that will be for the entire s...