HSN Code 1041010 provides the tax classification for Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose under Chapter 1 – Live Animals; Animal Products of the GST tariff. Businesses dealing in Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose must use this code for proper invoicing and return filing. Applicable taxes include CGST at Nil, SGST/UTGST at Nil, and IGST at Nil. The recognized unit of measurement is u.
HSN Codes under Chapter 1 – Live Animals; Animal Products
Below are related HSN codes from Chapter 1 – Live Animals; Animal Products for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Live Animals; Animal Products... | 1011010 | Live Horses, Asses, Mules And Hinnies Pure-Bred Br... | Nil | Nil | Nil |
| Live Animals; Animal Products... | 1011020 | Live Horses, Asses, Mulesandhinnies Pure-Bred Bree... | Nil | Nil | Nil |
| Live Animals; Animal Products... | 1011090 | Live Horses, Asses, Mules And Hinnies Pure-Bred Br... | Nil | Nil | Nil |
| Live Animals; Animal Products... | 1012100 | Pure-Bred Bredding Animals | 0.06 | 0.06 | 0.12 |
| Live Animals; Animal Products... | 1012910 | Horses For Polo | 6.00% | 6.00% | 12.00% |
| Live Animals; Animal Products... | 1012990 | Other | 0.06 | 0.06 | 0.12 |
| Live Animals; Animal Products... | 1013010 | Pure-Bred Breeding Animals | Nil | Nil | Nil |
| Live Animals; Animal Products... | 1013020 | Livestock | Nil | Nil | Nil |
| Live Animals; Animal Products... | 1013090 | Other | Nil | Nil | Nil |
| Live Animals; Animal Products... | 1019010 | Live Horses, Asses, Mules And Hinnies - Other - Ho... | Nil | Nil | Nil |
GST Rates for HSN 1041010
The tax structure for Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose under HSN Code 1041010 follows a dual taxation model. CGST is levied at Nil and SGST/UTGST at Nil for intrastate sales. Interstate transactions attract IGST at Nil. All invoices must record quantities in u as the standard measurement for goods under Chapter 1 – Live Animals; Animal Products.
Who Should Use HSN Code 1041010?
Any business engaged in supplying Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose must apply HSN 1041010 on invoices. The Live Animals; Animal Products category under Chapter 1 requires this classification for wholesalers, retailers, exporters, and online marketplaces alike.
Business Registration Requirements
Commencing trade in Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose? Secure GST registration to handle taxes on HSN 1041010 classified goods. Businesses with international operations in Live Animals; Animal Products need an Import Export Code. Exporters require AD Code registration for foreign currency receipts. Start with company registration to formalize your business structure.
Why Correct Classification Matters
Accurate application of HSN Code 1041010 for Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 1 – Live Animals; Animal Products should monitor rate updates (Nil, Nil, Nil) through official notifications to maintain seamless compliance.
Frequently Asked Questions (FAQs)
The number of HSN digits depends on your annual turnover. Businesses with turnover above Rs 5 crore must mention 6 digits, while others may use 4 digits. Always use the complete HSN 1041010 for accurate classification of Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose.
Yes, registered businesses can claim input tax credit on Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose purchases made under HSN 1041010. Ensure your supplier mentions correct HSN code and GST rates (Nil, Nil) on the invoice.
CGST at Nil plus SGST/UTGST at Nil applies when Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose is sold within the same state. IGST at Nil is charged when goods move across state borders or are imported.
No, Import Export Code is only required if you plan to import or export Live Sheep And Goats - Sheep : Sheep Including Lamb For Breeding Purpose internationally. For domestic trade within Live Animals; Animal Products, GST registration is sufficient.