What is the HSN code for tractor?

What is the HSN code for tractor?

What is the HSN code for tractor?

Tractors (other than tractors of heading 8709) HS Code and Indian Harmonised System Code.

HS Code Item Description
87 Chapter 87: Vehicles other than railway or tramway rolling stock, and parts and accessories thereof
8701 Tractors (other than tractors of heading 8709)
87011000 Other: Pedestrian controlled tractors

What is Hs Code 8701?

HSN Code 8701: Tractors (other than tractors of heading 8709)

What is GST on tractor?

The most essential goods and services attract nil rate of GST under Exempted Categories. The rate of GST on Tractors (except road tractors for semitrailers of engine capacity more than 1800 cc) fixed by GST council at the introduction of GST in July, 2017 is 12%

How much GST does a tractor have?

“The present levy is of 28 per cent GST on parts and components of tractors but parts and components of construction equipment, which are close kin to tractors especially under 80 HP, will attract only 18 per cent GST,” Tractor Manufacturers Association (TMA) said in a statement.

What is the HS Code for spare parts?

HS Codes 98010030 : HS Classifcations of Spare parts and other raw materials (including semi-finished materials or consumable stores for the maintenance of plant or project.

What is the GST rate for HSN code 87089900?

HSN Code & GST Rate for Tractors & Motor vehicles – Chapter 87

Rates (%) HSN Codes
18% 8716
12% 87162000
18% 87089900
18% 87089900

How much GST is on agriculture equipment?

Under the GST, farm machinery will be subjected to 12% duty whereas agricultural implements have been put under 28% tax slab.

How much tax do you pay on a tractor?

A 12 per cent GST on tractors, which will allow set offs against input taxes through the normal process, is all what we desire,” added the source.

Can we claim GST on tractor?

In the GST regime, the tax on fertilisers has been increased to 12%. The same impact is on Tractors. Wavier on the manufacture of Tractors is removed and GST of 12% has been imposed. This is beneficial as now the manufacturers will be able to claim Input Tax Credit.