Books is exempt from Goods and Services Tax in India under HSN code 4901.
Books is classified under HSN code 4901 for GST purposes. The Harmonized System of Nomenclature (HSN) code is used to classify goods systematically. This code must be mentioned on GST invoices when billing for books.
Printed books, newspapers, and periodicals are exempt from GST since July 2017. E-books and digital publications attract 18% GST (reduced from 18% to 5% in some cases via notifications).
Since books is exempt from GST, input tax credit is not available on exempt supplies. Businesses dealing exclusively in exempt goods/services cannot claim ITC on their inputs.
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Books is exempt from GST in India (0% rate). No GST is charged on the supply of books.
The HSN code for Books is 4901. HSN (Harmonized System of Nomenclature) codes are used to classify goods under GST. This code should be mentioned on all GST invoices.
Since books is exempt from GST, no GST needs to be calculated. The selling price is the final price with no additional tax.
No, input tax credit is not available on exempt supplies like books. Businesses dealing in exempt goods cannot claim ITC on related inputs.
Printed books, newspapers, and periodicals are exempt from GST since July 2017. E-books and digital publications attract 18% GST (reduced from 18% to 5% in some cases via notifications).