What is glass HSN code
The Harmonised System of Nomenclature (HSN) is a universal classification system used to categorise goods and services in a manner that allows easy identification for taxation purposes. In India, HSN codes are primarily used for determining GST rates applicable to goods. Glass and its related products fall under Chapter 70 of the HSN, which includes a wide range of glass materials, from raw glass to manufactured glassware. The use of HSN codes helps businesses in efficiently managing the taxation of glass products and ensures compliance with GST laws.For businesses dealing in glass, understanding the HSN code specific to the product type is crucial for correctly applying the GST rate and streamlining the tax filing process. The HSN code also helps in maintaining accurate records of sales and purchases, ensuring that both buyers and sellers follow the correct tax regulations.
HSN code and GST rate for glass and glassware
Below is a detailed table showing the HSN codes for different glass products and their respective GST rates, making it easier for businesses to determine the applicable tax on their products.HSN Code | Description | GST Rate |
7003 | Glass in the form of sheets or panels | 18% |
7010 | Glassware (including bottles and jars) | 18% |
7018 | Glass beads, imitation stones | 18% |
7005 | Float glass, and other forms of glass used in construction | 28% |
The GST rate for glass and glassware products typically ranges from 18% to 28% based on the product type. The above codes are essential for businesses dealing in glass products, as they define the GST rate to be charged on each type of item.
Importance of HSN codes for glass
HSN codes play an essential role in the business operations of glass manufacturers and sellers, ensuring that they comply with GST regulations. They provide clarity on the correct classification of products, thus determining the correct GST rate for each product. This helps in:- Simplifying tax filing: HSN codes help businesses file their GST returns correctly by determining the exact tax applicable to their products.
- Preventing errors: Accurate HSN coding ensures that businesses avoid errors related to tax filings and compliance.
- Avoiding penalties: Incorrect use of HSN codes could lead to penalties. Proper classification helps businesses stay compliant with Indian tax regulations.
- Import and export advantages: HSN codes help in the smooth cross-border trade of goods by providing clear tax classification, which is particularly important for businesses engaged in import-export activities.
Examples of glass HSN codes
The following table lists some examples of glass HSN codes, their descriptions, and the applicable GST rates to provide a better understanding of the diverse types of glass and glassware items.HSN Code | Description | GST Rate |
7003 | Sheet glass, including windows, mirrors, etc. | 18% |
7010 | Glassware for table or kitchen use, including vases, cups, and dishes | 18% |
7013 | Glassware for laboratory use | 18% |
7009 | Glass containers (bottles, jars, etc.) | 18% |
7017 | Glass beads, buttons, imitation stones, and others | 18% |
These are just a few examples of HSN codes for different types of glass items. Each product's GST rate is associated with its specific HSN code, so businesses must be diligent in determining the correct classification of their products.