GST Rate on Magnet
The GST rate on magnet is 18%, under HSN code 8505 (electromagnets, permanent magnets). Here is the full breakdown, a worked example, and related rates in Energy.
GST rate breakdown for magnet
- GST rate: 18%
- Intra-state: 9% CGST + 9% SGST
- Inter-state: 18% IGST
- HSN code on the invoice: 8505
- Also covers: electromagnet, permanent magnet
Rates reflect the GST 2.0 structure effective 22 September 2025 (slabs 0%, 5%, 18%, 40%). Confirm the current rate on the official GST portal before invoicing.
Worked example: GST on magnet
- Taxable value: ₹10,000
- GST (18%): ₹1,800
- Within state: ₹900 CGST + ₹900 SGST
- To another state: ₹1,800 IGST
- Invoice total: ₹11,800
FAQs about GST on magnet
What is the GST rate on magnet?
The GST rate on magnet is 18%. Intra-state it is 9% CGST + 9% SGST; inter-state it is 18% IGST. Magnet falls under HSN code 8505.
What is the HSN code for magnet?
Magnet falls under HSN code 8505, which covers electromagnets, permanent magnets. Show this code on every GST tax invoice line for magnet.