Chapter 23 of the GST framework covers Residues And Waste From The F, and HSN Code 23061040 specifically identifies Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext... for taxation purposes. This classification is mandatory for all businesses engaged in the supply of Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext.... Tax rates applicable include CGST at Nil, SGST/UTGST at Nil, and IGST at Nil for interstate movements. The standard unit of measurement is kg..
HSN Codes under Chapter 23 – Residues And Waste From The F
Below are related HSN codes from Chapter 23 – Residues And Waste From The F for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Residues And Waste From The F... | 23011010 | Flours, Meals And Pellets, Of Meator Meat Offal, O... | 2.50% | 2.50% | 5.00% |
| Residues And Waste From The F... | 23011090 | Flours, Meals And Pellets, Of Meator Meat Offal, O... | 0.025 | 0.025 | 0.05 |
| Residues And Waste From The F... | 23012011 | Flours, Meals And Pellets, Of Meator Meat Offal, O... | 2.50% | 2.50% | 5.00% |
| Residues And Waste From The F... | 23012019 | Flours, Meals And Pellets, Of Meator Meat Offal, O... | 2.50% | 2.50% | 5.00% |
| Residues And Waste From The F... | 23012090 | Flours, Meals And Pellets, Of Meator Meat Offal, O... | 0.025 | 0.025 | 0.05 |
| Residues And Waste From The F... | 23021010 | Bran, Sharps And Other Residues, Whetheror Not In ... | 2.50% | 2.50% | 5.00% |
| Residues And Waste From The F... | 23021090 | Bran, Sharps And Other Residues, Whetheror Not In ... | 2.50% | 2.50% | 5.00% |
| Residues And Waste From The F... | 23022010 | Bran, Sharps And Other Residues, Whetheror Not In ... | 2.50% | 2.50% | 5.00% |
| Residues And Waste From The F... | 23022020 | Bran, Sharps And Other Residues, Whetheror Not In ... | 2.50% | 2.50% | 5.00% |
| Residues And Waste From The F... | 23022090 | Bran, Sharps And Other Residues, Whetheror Not In ... | 0.025 | 0.025 | 0.05 |
GST Rates for HSN 23061040
Tax liability for Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext... under HSN 23061040 varies by transaction geography. CGST at Nil combined with SGST/UTGST at Nil applies to local sales. Interstate movement attracts IGST at Nil. All billing for Chapter 23 – Residues And Waste From The F products must use kg..
Who Should Use HSN Code 23061040?
Traders, manufacturers, and importers of Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext... are required to mention HSN Code 23061040 on all GST documents. This Residues And Waste From The F classification under Chapter 23 is mandatory for compliance across all business formats including online sellers.
Business Registration Requirements
Looking to deal in Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext...? GST registration is your first compliance requirement for HSN 23061040 goods. International traders in Residues And Waste From The F 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
Proper use of HSN Code 23061040 for Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext... streamlines audit processes and supports valid credit claims. Stay updated on Nil, Nil, and Nil rates for Chapter 23 – Residues And Waste From The F through government circulars to ensure uninterrupted compliance.
Frequently Asked Questions (FAQs)
HSN Code 23061040 is used to classify Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext... under Chapter 23 – Residues And Waste From The F for GST purposes. Businesses must mention this code on invoices to ensure correct tax calculation and compliance.
For Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext..., CGST applies at Nil and SGST/UTGST at Nil for intrastate supplies. Interstate transactions are taxed under IGST at Nil.
Yes, GST registration is mandatory for businesses dealing in Oil-Cake And Other Solid Residues, Whether Or Not Ground Or In The Form Ofpellets, Resulting From The Extraction Ofvegetable Fats Or Oils, Other Than Thoseof Heading 2304 Or 2305 - Of Cotton Seeds : Oil-Cake And Oil-Cake Meal, Undecorticated, Solvent Ext... under HSN 23061040. This enables you to legally collect taxes and claim input credits on purchases.
For importing goods under Residues And Waste From The F, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.
