GST on Fish, Fish Products and Seafood

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Indian fisheries play a significant role in all sectors of food production, rendering nutritional security to the food basket, contributing to agricultural exports and occupying about fourteen million people in various activities. Also, the fisheries sector plays an essential role in the Indian economy through substantial earnings, employment generation, supporting livelihoods of millions of fishers and ensuring nutritional and food security. In this article, we will discuss GST on Fish, Fish Products and Seafood and also the significance of GST Registration.

Before explaining the GST on Fish, Fish Products and Seafood, now you require assuring some facts about the GST (Goods and Services tax).

Understand About GST

GST is an imperative Indirect Tax that has inflicted on the sale, production, and consumption of goods and services over the nation. It is a separate tax conventional for the number of goods from the operative to the user. GST is applicable only for purpose extension at each stage. However, GST registration is obligatory for registering the business of GST on Fish, Fish Products and Seafood.

Rate of GST on Fish, Fish Products and Seafood

The Rate of GST on Fish, Fish Products and Seafood are imposed on various conditions such as –

GST on Fish and Seafood 

Fish, crustaceans, molluscs & other aquatic worms in processed, cured or frozen state are taxable at 5% rate under GST:

  • Frozen, excluding fish fillets and different fish meat
  • Fish fillets and other fish meat such as dried, salted or in brine; smoked fish, and pellets of fish.
  • Frozen, preserved, salted crabs, in shell, prepared by steaming or by steaming in water, frozen, dried, salted or in brine flours, meals and pellets of crustaceans.

GST on Fish and Seafood in Prepared or Preserved State

All products of meat, of fish or crustaceans, molluscs or other aquatic vertebrates are differentiated under chapter 16 of the HSN code. Therefore, the following types of fish and seafood products attract 12% levied.

  • Essences and juices of meat, fish or crustaceans, molluscs or other aquatic invertebrates.
  • Processed or preserved fish such as caviar and caviar deputies prepared from fish eggs.
  • Crustaceans, molluscs and other aquatic insects prepared or preserved.

GST on Books

In case, you require any kind of direction associated with the GST registration, GST return filing procedure, or any other GST compliance, please feel free to communicate with our business advisors at 8881-069-069.

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