classification of two wheelers chain and applicable GST rate ?

By | October 7, 2017
(Last Updated On: October 7, 2017)

 

Q What will be classification of two wheelers chain and applicable GST rate ?

1 As per the HS explanatory notes, HS code 7315 includes :—

 (a)Transmission chains for cycles, automobiles or machinery.

 (b)Anchor or mooring chains; lifting, haulage or towing chains; automobile skid chains.

(c)Mattress chains, chains for sink stoppers, lavatory cisterns, etc.

(d) All these chains may be fitted with terminal parts or accessories (e.g., hooks, spring hooks, swivels, shackles, sockets, rings and split rings and tee pieces).

(e)Thev may or may not be cut to lenath, or obviously intended for particular uses.

2 Thus, two wheeler chains fall under HS code 7315 and attracts 18% GST.

 

Read 39 FAQ on GST Rates clarified by CBEC 29.09.2017

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About CA Satbir Singh

Chartered Accountant having 12+ years of Experience in Taxation , Finance and GST related matters and can be reached at Email : Taxheal@gmail.com

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