29029040 is the designated HSN classification for Cyclic Hydrocarbons - Other :Napthalene, Pure, categorized under Chapter 29 – Elements Or Of Isotopes in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Cyclic Hydrocarbons - Other :Napthalene, Pure must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 9.00%, SGST/UTGST at 9.00% for local transactions, and IGST at 18.00% for interstate supplies. Quantities are measured in kg. for billing purposes.
HSN Codes under Chapter 29 – Elements Or Of Isotopes
Below are related HSN codes from Chapter 29 – Elements Or Of Isotopes for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Elements Or Of Isotopes... | 29011000 | Acyclic Hydrocarbons - Saturated | 0.09 | 0.09 | 0.18 |
| Elements Or Of Isotopes... | 29012100 | Acyclic Hydrocarbons - Unsaturated : Ethylene | 0.09 | 0.09 | 0.18 |
| Elements Or Of Isotopes... | 29012200 | Acyclic Hydrocarbons - Unsaturated : Propene (Prop... | 0.09 | 0.09 | 0.18 |
| Elements Or Of Isotopes... | 29012300 | Acyclic Hydrocarbons - Unsaturated : Butene (Butyl... | 0.09 | 0.09 | 0.18 |
| Elements Or Of Isotopes... | 29012400 | Acyclic Hydrocarbons - Unsaturated : Buta-1,3-Dien... | 0.09 | 0.09 | 0.18 |
| Elements Or Of Isotopes... | 29012910 | Acyclic Hydrocarbons - Unsaturated :-Other : Acety... | 9.00% | 9.00% | 18.00% |
| Elements Or Of Isotopes... | 29012920 | Acyclic Hydrocarbons - Unsaturated :-Other : Hepte... | 9.00% | 9.00% | 18.00% |
| Elements Or Of Isotopes... | 29012930 | Dihydromyrcene | 9.00% | 9.00% | 18.00% |
| Elements Or Of Isotopes... | 29012940 | Tetradecene | 9.00% | 9.00% | 18.00% |
| Elements Or Of Isotopes... | 29012990 | Acyclic Hydrocarbons - Unsaturated :-Other : Other | 0.09 | 0.09 | 0.18 |
GST Rates for HSN 29029040
The tax structure for Cyclic Hydrocarbons - Other :Napthalene, Pure under HSN Code 29029040 follows a dual taxation model. CGST is levied at 9.00% and SGST/UTGST at 9.00% for intrastate sales. Interstate transactions attract IGST at 18.00%. All invoices must record quantities in kg. as the standard measurement for goods under Chapter 29 – Elements Or Of Isotopes.
Who Should Use HSN Code 29029040?
All businesses supplying Cyclic Hydrocarbons - Other :Napthalene, Pure are obligated to use HSN 29029040 on tax invoices. From producers to retailers within Elements Or Of Isotopes, Chapter 29 classification ensures uniform tax treatment. This requirement applies regardless of turnover or business model.
Business Registration Requirements
Starting a business involving Cyclic Hydrocarbons - Other :Napthalene, Pure? GST registration is mandatory for collecting and remitting taxes on HSN 29029040 goods. Companies planning international trade within Elements Or Of Isotopes must obtain an Import Export Code. Exporters need AD Code registration for receiving foreign payments. New entrepreneurs should complete company registration before pursuing trade-specific approvals.
Why Correct Classification Matters
Accurate application of HSN Code 29029040 for Cyclic Hydrocarbons - Other :Napthalene, Pure enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 29 – Elements Or Of Isotopes should monitor rate updates (9.00%, 9.00%, 18.00%) through official notifications to maintain seamless compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 29029040 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 29029040 for accurate classification of Cyclic Hydrocarbons - Other :Napthalene, Pure.
Can I claim input tax credit on Cyclic Hydrocarbons - Other :Napthalene, Pure purchases?
Yes, registered businesses can claim input tax credit on Cyclic Hydrocarbons - Other :Napthalene, Pure purchases made under HSN 29029040. Ensure your supplier mentions correct HSN code and GST rates (9.00%, 9.00%) on the invoice.
What is the difference between CGST and IGST for HSN 29029040?
CGST at 9.00% plus SGST/UTGST at 9.00% applies when Cyclic Hydrocarbons - Other :Napthalene, Pure is sold within the same state. IGST at 18.00% is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Cyclic Hydrocarbons - Other :Napthalene, Pure domestically?
No, Import Export Code is only required if you plan to import or export Cyclic Hydrocarbons - Other :Napthalene, Pure internationally. For domestic trade within Elements Or Of Isotopes, GST registration is sufficient.
