HSN Code 12023090 provides the tax classification for Other under Chapter 12 – Oil Seeds And Oleaginous Frui of the GST tariff. Businesses dealing in Other must use this code for proper invoicing and return filing. Applicable taxes include CGST at 2.50%, SGST/UTGST at 2.50%, and IGST at 5.00%. The recognized unit of measurement is kg..

HSN Codes under Chapter 12 – Oil Seeds And Oleaginous Frui

Below are related HSN codes from Chapter 12 – Oil Seeds And Oleaginous Frui for your reference:

Chapter HSN Code Description CGST SGST/UTGST IGST
Oil Seeds And Oleaginous Frui... 12010010 Soya Beans, Whether Or Not Broken Soya Beans, Whet... Nil Nil Nil
Oil Seeds And Oleaginous Frui... 12010090 Soya Beans, Whether Or Not Broken Soya Beans, Whet... 2.50% 2.50% 5.00%
Oil Seeds And Oleaginous Frui... 12011000 Seed 2.50% 2.50% 5.00%
Oil Seeds And Oleaginous Frui... 12019000 Other 0.025 0.025 0.05
Oil Seeds And Oleaginous Frui... 12021011 Ground?Nuts, Not Roasted Or Otherwise Cooked, Whet... Nil Nil Nil
Oil Seeds And Oleaginous Frui... 12021019 Ground?Nuts, Not Roasted Or Otherwise Cooked, Whet... 0.025 0.025 0.05
Oil Seeds And Oleaginous Frui... 12021091 Ground?Nuts, Not Roasted Or Otherwise Cooked, Whet... Nil Nil Nil
Oil Seeds And Oleaginous Frui... 12021099 Ground?Nuts, Not Roasted Or Otherwise Cooked, Whet... 2.50% 2.50% 5.00%
Oil Seeds And Oleaginous Frui... 12022010 Ground?Nuts, Not Roasted Or Otherwise Cooked, Whet... 2.50% 2.50% 5.00%
Oil Seeds And Oleaginous Frui... 12022090 Ground?Nuts, Not Roasted Or Otherwise Cooked, Whet... 2.50% 2.50% 5.00%

GST Rates for HSN 12023090

For Other classified under HSN Code 12023090, tax computation follows GST principles. CGST at 2.50% plus SGST/UTGST at 2.50% covers intrastate sales. IGST at 5.00% applies to interstate transactions. kg. is the prescribed measurement for Oil Seeds And Oleaginous Frui under Chapter 12.

Who Should Use HSN Code 12023090?

Manufacturers, wholesalers, retailers, and exporters dealing in Other are required to mention HSN 12023090 on all tax documents. This classification under Oil Seeds And Oleaginous Frui applies to businesses of all sizes operating within Chapter 12. Proper usage ensures accurate return filing and audit compliance.

Business Registration Requirements

Looking to deal in Other? GST registration is your first compliance requirement for HSN 12023090 goods. International traders in Oil Seeds And Oleaginous Frui products must obtain an Import Export Code. AD Code registration facilitates export payment processing. Company registration should precede all other business approvals.

Why Correct Classification Matters

Accurate application of HSN Code 12023090 for Other enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 12 – Oil Seeds And Oleaginous Frui should monitor rate updates (2.50%, 2.50%, 5.00%) through official notifications to maintain seamless compliance.

Frequently Asked Questions (FAQs)

How many digits of HSN Code 12023090 should I mention on invoices?

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 12023090 for accurate classification of Other.

Can I claim input tax credit on Other purchases?

Yes, registered businesses can claim input tax credit on Other purchases made under HSN 12023090. Ensure your supplier mentions correct HSN code and GST rates (2.50%, 2.50%) on the invoice.

What is the difference between CGST and IGST for HSN 12023090?

CGST at 2.50% plus SGST/UTGST at 2.50% applies when Other is sold within the same state. IGST at 5.00% is charged when goods move across state borders or are imported.

Is Import Export Code necessary for trading Other domestically?

No, Import Export Code is only required if you plan to import or export Other internationally. For domestic trade within Oil Seeds And Oleaginous Frui, GST registration is sufficient.

More HSN codes from Chapter 12

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