Within Chapter 29 – Elements Or Of Isotopes, HSN Code 29071220 serves as the official classification for Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid. This code determines tax rates and compliance obligations for all entities trading in Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid. CGST applies at 9.00%, SGST/UTGST at 9.00% for local transactions, and IGST at 18.00% for interstate supplies. Measurement is standardized in N.a.
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 29071220
The tax structure for Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid under HSN Code 29071220 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 N.a as the standard measurement for goods under Chapter 29 – Elements Or Of Isotopes.
Who Should Use HSN Code 29071220?
Manufacturers, wholesalers, retailers, and exporters dealing in Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid are required to mention HSN 29071220 on all tax documents. This classification under Elements Or Of Isotopes applies to businesses of all sizes operating within Chapter 29. Proper usage ensures accurate return filing and audit compliance.
Business Registration Requirements
Commencing trade in Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid? Secure GST registration to handle taxes on HSN 29071220 classified goods. Businesses with international operations in Elements Or Of Isotopes 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
Using HSN Code 29071220 accurately for Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid avoids compliance issues and facilitates credit claims. Monitor changes to 9.00%, 9.00%, and 18.00% rates for Chapter 29 – Elements Or Of Isotopes to maintain accurate filings and smooth business operations.
Frequently Asked Questions (FAQs)
What is HSN Code 29071220 used for?
HSN Code 29071220 is used to classify Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid under Chapter 29 – Elements Or Of Isotopes 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 29071220?
For Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid, CGST applies at 9.00% and SGST/UTGST at 9.00% for intrastate supplies. Interstate transactions are taxed under IGST at 18.00%.
Do I need GST registration to trade in Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid?
Yes, GST registration is mandatory for businesses dealing in Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid under HSN 29071220. This enables you to legally collect taxes and claim input credits on purchases.
What registrations are required for importing Phenols; Phenol-Alcohols - Monophenols :-Cresols And Their Salts : Cresylic Acid?
For importing goods under Elements Or Of Isotopes, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.
