28%.
Accordingly, GST is payable at 18% on UPS/ inverter (classifiable under heading 8504), and GST is payable at 28% on external batteries (classifiable under heading 8507 for all batteries except lithium-ion battery).
What is the GST rate for batteries?
Therefore, it is clarified that in such supplies, UPS/ inverter would attract GST rate of 18% under heading 8504, while external batteries would attract the GST rate as applicable to it under heading 8507 (28% for all batteries except lithium-ion battery).
What is the GST on Exide battery?
18%
HSN Code 8507
| HS Code | Description | GST% |
|---|---|---|
| 850790 | Plates, separators and other parts of electric accumulators, n.e.s. ,Products include: Exide Battery 8507 | 18% |
What is the cost of battery of inverter?
The price of Inverter Batteries products is between ₹11,800 – ₹12,500 per Piece during Feb ’21 – Jan ’22.
Is GST applicable below 1000?
For the transaction value of ₹ 1,000 and less, the applicable rate is NIL. For the transaction value between ₹ 1,001 to ₹ 7,500, the applicable rate is 12%. For the transaction value above ₹ 7,500 the applicable rate is 18%.
Which items are in 5 GST slab?
What is Included Under the GST percentage 5% GST Rate List?
- Edible oil, spices, tea, coffee, and sugar.
- Coal.
- Indian sweets or Mithai.
- Life-saving drugs and medicines, like insulin.
- Numismatic coins.
- Ice and snow.
- Walking sticks.
- Different accessories or carriage parts for differently-abled individuals.
Which items are in 28 GST slab?
GST Tax Slab of 28%
Goods – Over 200 goods will be taxes at a rate of 28%. The goods which will be part of this category under GST are sunscreen, pan masala, dishwasher, weighing machine, paint, cement, vacuum cleaner. Other items include automobiles, hair clippers, motorcycles.
What is the HSN code of inverter?
85044010
85044010 – Static converters: Electric inverter HS Code and Indian Harmonised System Code.
| HS Code | Item Description | Policy |
|---|---|---|
| 8504 | Electrical transformers, static converters (for example, rectifiers) and inductors | |
| 85044010 | Static converters: Electric inverter | Free |
| Free | ||
| Free |
What is HSN code in Exide battery?
HSN Code 8507
| HS Code | Description | GST% |
|---|---|---|
| 85072000 | OTHER LEAD-ACID ACCUMULATORS Products Include: Lead Acid Battery, Solar Module/Panel,Electronic Item, Exide Battery, Amaron Battery, Battery Cell, Tubular Battery, Smf Battery | 18% |
Which is best battery for inverter?
TOP 10 BEST INVERTER BATTERIES BRAND FOR HOME USE IN INDIA 2020
- Exide Inverter Plus Battery.
- Atom Battery by Loom Solar.
- Luminous ILTT 18048 Battery.
- Exide 150ah Tubular Battery.
- Luminous Inverlast Battery 150ah/12v.
- Microtek TT 2450 Battery.
- Amaron Inverter Battery.
- Exide 150Ah New Insta Brite.
Which inverter is best for 200Ah battery?
Luminous Eco Volt 1050 Inverter with RC 25000 200Ah Tall Tubular Battery Online at Best Price | Luminous India.
Which inverter battery is best 2021?
Here are the Top 5 Best Inverter Batteries in India in 2022
- LUMINOUS RC 18000 150 AH Tall Tubular Battery.
- Exide 150Ah New Insta brite Inverter Ups Battery.
- Amaron Inverter 150Ah Tall Tubular Battery.
- Luminous RC 15000Tubular 120AH Battery.
- Luminous ILTT 26060 220Ah Tubular Battery.
How do I calculate GST?
Formulae for GST Calculation:
- Where GST is excluded: GST Amount = (Value of supply x GST%)/100. Price to be charged = Value of supply + GST Amount.
- Where GST is included in the value of supply: GST Amount = Value of supply – [Value of supply x {100/(100+GST%)}]
Is GST calculated on MRP?
MRP is inclusive of all taxes including GST. It must be noted that retailers cannot charge GST over and above the MRP. GST is already included in the MRP printed on the product.
Who are GST exempt?
Any business with a turnover of less than Rs. 40 lakhs is recognised as a GST-exempt business. Businesses that have a lower annual aggregate turnover than Rs. 1.5 crores can avail of a composition scheme under GST.
What is B2B transaction in GST?
B2B means business to business transaction. In B2B transaction, the customer is also a registered person and is eligible to take ITC. For B2B supplies, invoice wise details of both intra-state and inter-state supplies should be uploaded in GSTR-1 Return.
What is the GST rate?
5%
The current rates are: 5% (GST) in Alberta, British Columbia, Manitoba, Northwest Territories, Nunavut, Quebec, Saskatchewan, and Yukon. 13% (HST) in Ontario. 15% (HST) in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island.
What are GST slabs?
Currently, the GST is a four-tiered framework with tax rates of 5, 12, 18, and 28 percent. Essential items are either exempted or taxed at the lowest tax slab, while luxury and sin items attract the highest slab. Luxury and sin products attract cess on top of the highest 28 percent slab.
What are 12 GST items?
12% GST Goods. Items with 12 Percent GST as on 01.01. 2022
| Heading/ Sub-heading | Description of Goods | IGST Rate |
|---|---|---|
| 0402 91 10, 0402 99 20 | Condensed milk | 12% |
| 405 | Butter and other fats (i.e. ghee, butter oil, etc.) and oils derived from milk; dairy spreads | 12% |
| 406 | Cheese | 12% |
| 801 | Brazil nuts, dried, whether or not shelled or peeled | 12% |
How many GST is AC?
28%
What is the GST rate and HSN code applicable to air conditioners? The GST rate on air conditioners is 28%. They fall under Chapter 8415.
What is the GST for cement?
28%
Impact of GST on Cement
Cement will attract 28% GST, i.e., a higher rate of tax which means increased costs for the infrastructure sector. Refractory cement, mortars, concretes (mainly used for building industry furnaces, huge ovens etc.) will attract 18% tax.
Contents