02 August 2025
Under the Goods and Services Tax (GST) regime, which replaced the Maharashtra Value Added Tax (MVAT) and Central Sales Tax (CST) systems in July 2017, the tax rates for fashion items such as handbags, wallets, and school bags are as follows: GST Rates for Fashion Items: Handbags and Wallets: These items fall under HSN code 4202, which includes handbags, shopping bags, wallets, purses, and similar articles. The applicable GST rate is 18%. Exim Trade Data School Bags: School bags are categorized under HSN code 4202 as well. The GST rate for these items is 18%. Additional Information: HSN Code: The Harmonized System of Nomenclature (HSN) code is used to classify goods under GST. For fashion items like handbags, wallets, and school bags, the relevant HSN code is 4202. Exim Trade Data GST Rate: The GST rate of 18% is applicable to these items, which includes both Central GST (CGST) and State GST (SGST) components. Input Tax Credit (ITC): Businesses registered under GST can claim Input Tax Credit on the tax paid for these items, provided they are used for business purposes and the necessary documentation is maintained.
02 August 2025
Under the Goods and Services Tax (GST) regime, which replaced the Maharashtra Value Added Tax (MVAT) and Central Sales Tax (CST) systems in July 2017, the tax rates for fashion items such as handbags, wallets, and school bags are as follows: GST Rates for Fashion Items: Handbags and Wallets: These items fall under HSN code 4202, which includes handbags, shopping bags, wallets, purses, and similar articles. The applicable GST rate is 18%. Exim Trade Data School Bags: School bags are categorized under HSN code 4202 as well. The GST rate for these items is 18%. Additional Information: HSN Code: The Harmonized System of Nomenclature (HSN) code is used to classify goods under GST. For fashion items like handbags, wallets, and school bags, the relevant HSN code is 4202. Exim Trade Data GST Rate: The GST rate of 18% is applicable to these items, which includes both Central GST (CGST) and State GST (SGST) components. Input Tax Credit (ITC): Businesses registered under GST can claim Input Tax Credit on the tax paid for these items, provided they are used for business purposes and the necessary documentation is maintained.
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