Under the GST regime, HSN Code 13019032 classifies Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense within Chapter 13 – Lac; Gums, Resins And Other V. This code is essential for businesses to correctly calculate and remit taxes on Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense. The applicable rates are CGST at 2.50%, SGST/UTGST at 2.50% for within-state sales, and IGST at 5.00% for interstate supplies. Goods are quantified using kg..
HSN Codes under Chapter 13 – Lac; Gums, Resins And Other V
Below are related HSN codes from Chapter 13 – Lac; Gums, Resins And Other V for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Lac; Gums, Resins And Other V... | 13011010 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13011020 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13011030 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13011040 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13011050 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13011060 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13011070 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13011080 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13011090 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | Nil | Nil | Nil |
| Lac; Gums, Resins And Other V... | 13012000 | Lac; Natural Gums, Resins, Gum-Resins And Oleoresi... | 0.025 | 0.025 | 0.05 |
GST Rates for HSN 13019032
The tax structure for Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense under HSN Code 13019032 follows a dual taxation model. CGST is levied at 2.50% and SGST/UTGST at 2.50% for intrastate sales. Interstate transactions attract IGST at 5.00%. All invoices must record quantities in kg. as the standard measurement for goods under Chapter 13 – Lac; Gums, Resins And Other V.
Who Should Use HSN Code 13019032?
Every entity transacting in Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense must quote HSN Code 13019032 on invoices. This includes traders, distributors, and e-commerce sellers operating under Lac; Gums, Resins And Other V. Chapter 13 mandates this classification for accurate tax computation across the supply chain.
Business Registration Requirements
Entering the Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense market requires essential registrations. GST registration enables legal tax collection on HSN 13019032 goods. For cross-border trade in Lac; Gums, Resins And Other V items, secure an Import Export Code. Exporters additionally need AD Code registration for bank processing. Begin with company registration to establish your business entity.
Why Correct Classification Matters
Accurate HSN Code 13019032 usage for Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense simplifies reconciliation and protects against penalties. Keep current with 2.50%, 2.50%, and 5.00% updates for Chapter 13 – Lac; Gums, Resins And Other V to ensure ongoing compliance.
Frequently Asked Questions (FAQs)
What is HSN Code 13019032 used for?
HSN Code 13019032 is used to classify Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense under Chapter 13 – Lac; Gums, Resins And Other V for GST purposes. Businesses must mention this code on invoices to ensure correct tax calculation and compliance.
What are the GST rates applicable on HSN 13019032?
For Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense, CGST applies at 2.50% and SGST/UTGST at 2.50% for intrastate supplies. Interstate transactions are taxed under IGST at 5.00%.
Do I need GST registration to trade in Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense?
Yes, GST registration is mandatory for businesses dealing in Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense under HSN 13019032. This enables you to legally collect taxes and claim input credits on purchases.
What registrations are required for importing Lac; Natural Gums, Resins, Gum-Resins And Oleoresins (For Example, Balsams)Other : Gum Resins : Oilbanum Or Frankincense?
For importing goods under Lac; Gums, Resins And Other V, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.
