Under the GST regime, HSN Code 25240031 classifies Asbestos - Asbestos: Flakes Or Powder: Amosite within Chapter 25 – Mineral Products-Salt; Sulphu. This code is essential for businesses to correctly calculate and remit taxes on Asbestos - Asbestos: Flakes Or Powder: Amosite. 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 N.a.
HSN Codes under Chapter 25 – Mineral Products-Salt; Sulphu
Below are related HSN codes from Chapter 25 – Mineral Products-Salt; Sulphu for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Mineral Products-Salt; Sulphu... | 25010010 | Salt (Including Table Salt And Denatured Salt) And... | Nil | Nil | Nil |
| Mineral Products-Salt; Sulphu... | 25010020 | Salt (Including Table Salt And Denatured Salt) And... | Nil | Nil | Nil |
| Mineral Products-Salt; Sulphu... | 25010090 | Salt (Including Table Salt And Denatured Salt) And... | Nil | Nil | Nil |
| Mineral Products-Salt; Sulphu... | 25020000 | Unroasted Iron Pyrites | 0.025 | 0.025 | 0.05 |
| Mineral Products-Salt; Sulphu... | 25030010 | Sulphur Of All Kinds, Other Than Sublimed Sulphur,... | 2.50% | 2.50% | 5.00% |
| Mineral Products-Salt; Sulphu... | 25030090 | Sulphur Of All Kinds, Other Than Sublimed Sulphur,... | 0.025 | 0.025 | 0.05 |
| Mineral Products-Salt; Sulphu... | 25041010 | Natural Graphite - In Powder Or In Flakes:Graphite... | 2.50% | 2.50% | 5.00% |
| Mineral Products-Salt; Sulphu... | 25041020 | Natural Graphite - In Powder Or In Flakes:Graphite... | 2.50% | 2.50% | 5.00% |
| Mineral Products-Salt; Sulphu... | 25041090 | Natural Graphite - In Powder Or In Flakes:Other | 0.025 | 0.025 | 0.05 |
| Mineral Products-Salt; Sulphu... | 25049010 | Natural Graphite - Other: Graphite, Micronised | 2.50% | 2.50% | 5.00% |
GST Rates for HSN 25240031
The taxation of Asbestos - Asbestos: Flakes Or Powder: Amosite under HSN Code 25240031 depends on supply location. Intrastate transactions require CGST at 2.50% and SGST/UTGST at 2.50%. Interstate supplies are charged IGST at 5.00%. Invoices should consistently use N.a for Mineral Products-Salt; Sulphu goods under Chapter 25.
Who Should Use HSN Code 25240031?
Any business engaged in supplying Asbestos - Asbestos: Flakes Or Powder: Amosite must apply HSN 25240031 on invoices. The Mineral Products-Salt; Sulphu category under Chapter 25 requires this classification for wholesalers, retailers, exporters, and online marketplaces alike.
Business Registration Requirements
Commencing trade in Asbestos - Asbestos: Flakes Or Powder: Amosite? Secure GST registration to handle taxes on HSN 25240031 classified goods. Businesses with international operations in Mineral Products-Salt; Sulphu 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
Proper use of HSN Code 25240031 for Asbestos - Asbestos: Flakes Or Powder: Amosite streamlines audit processes and supports valid credit claims. Stay updated on 2.50%, 2.50%, and 5.00% rates for Chapter 25 – Mineral Products-Salt; Sulphu through government circulars to ensure uninterrupted compliance.
Frequently Asked Questions (FAQs)
Which chapter does HSN Code 25240031 belong to?
HSN Code 25240031 falls under Chapter 25 – Mineral Products-Salt; Sulphu in the GST tariff schedule. This chapter covers various goods including Asbestos - Asbestos: Flakes Or Powder: Amosite.
Is IGST applicable on Asbestos - Asbestos: Flakes Or Powder: Amosite?
Yes, IGST at 5.00% is applicable when Asbestos - Asbestos: Flakes Or Powder: Amosite is supplied interstate or imported. For local sales within a state, CGST at 2.50% and SGST/UTGST at 2.50% apply instead.
Can e-commerce sellers use HSN Code 25240031?
Yes, e-commerce sellers dealing in Asbestos - Asbestos: Flakes Or Powder: Amosite must use HSN 25240031 on their invoices. This applies to all online platforms operating under Mineral Products-Salt; Sulphu classification.
How do I start an import business for Mineral Products-Salt; Sulphu goods?
To import goods under Mineral Products-Salt; Sulphu, complete GST registration first, then obtain an Import Export Code from DGFT. Proper company registration provides the legal foundation for your import operations.
