Live barnacles is exempted from paying GST
My business is purchase and sale of live barnacles. Should I need to pay GST in India on live barnacles business? Is GST exempted on live barnacles? No GST applicable for Live barnacles?
GST tax on Live barnacles under HSN chapter 0306
As per GST Law, there is no GST payable on live barnacles.
So the rate of GST payable on live barnacles is nil rate.
The GST Council has broadly approved the GST rates for goods at nil rate, 5%, 12%, 18% and 28% to be levied on certain goods. According to GST slabs, the most essential goods and services fall under the exempt list while Commonly used Goods and Services have been put in the lowest tax bracket of 5 per cent. Standard Goods and Services are in 12 per cent tax bracket, the government has kept a large number of items under 18% tax slab. only Special category of Goods and Services including luxury goods fall in the top tax bracket of 28 per cent. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST.
The above details about GST rate tariff on live barnacles is only for information.
The validity of above information and amendments about GST rate on live barnacles may be verified before any business dealing.
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