Overview of GST HSN Code Schedule.
The Schedules of HSN codes under GST are primarily divided based on the tax rate applicable to different categories of goods. These Schedules are structured to group products by nature, necessity, and economic classification. Here’s how they’re generally organized:
- Schedule I (5%) – Essential goods like food items, medicines, and life-saving drugs.
Schedule II (12%) – Standard goods, including processed foods, computers, etc.
Schedule III (18%) – General rate for most goods and services.
Schedule IV (28%) – Luxury goods, sin goods (e.g. tobacco), and high-end items.
- Schedule V (3%) – Precious metals like gold, silver, and platinum.
- Schedule VI (0.25%) – Rough precious and semi-precious stones.
- Schedule VII (1.5%) – Some specific items such as job work on certain goods (e.g., diamonds, textiles), as per notifications.
Nil Rated – Goods exempt from GST.
Compensation Cess – Extra tax on specific luxury and demerit goods like tobacco, aerated drinks, and luxury cars to compensate states.
Select the GST HSN Code Schedule you want to search your items in:-
Note:- Schedule I to III is commonly used.
