Chapter 3 of the GST framework covers Fish And Crustaceans, Mollusc, and HSN Code 3042050 specifically identifies Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish for taxation purposes. This classification is mandatory for all businesses engaged in the supply of Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish. Tax rates applicable include CGST at Nil/2.5%, SGST/UTGST at Nil/2.5%, and IGST at Nil/5% for interstate movements. The standard unit of measurement is kg..
HSN Codes under Chapter 3 – Fish And Crustaceans, Mollusc
Below are related HSN codes from Chapter 3 – Fish And Crustaceans, Mollusc for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Fish And Crustaceans, Mollusc... | 3011100 | Live Fish -Ornamental Fish--Freshwater | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3011900 | Live Fish -Ornamental Fish--Other | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3019100 | Live Fishother Live Fish Trout (Salmo Trutta, Onco... | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3019200 | Live Fishother Live Fish Eels (Anguilla Spp.) | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3019300 | Carp (Cyprinus Spp., Carassius Spp., Ctenopharyngo... | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3019400 | Live Fish-Other Live Fish-- Bluefin Tunas (Thunnus... | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3019500 | Live Fish-Other Live Fish--Southern Bluefin Tunas ... | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3019900 | Live Fishother Live Fish Other | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3021100 | Fish, Fresh Or Chilled, Excluding Fishfillets And ... | Nil | Nil | Nil |
| Fish And Crustaceans, Mollusc... | 3021300 | Fish, Fresh Or Chilled, Excluding Fishfillets And ... | Nil | Nil | Nil |
GST Rates for HSN 3042050
The tax structure for Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish under HSN Code 3042050 follows a dual taxation model. CGST is levied at Nil/2.5% and SGST/UTGST at Nil/2.5% for intrastate sales. Interstate transactions attract IGST at Nil/5%. All invoices must record quantities in kg. as the standard measurement for goods under Chapter 3 – Fish And Crustaceans, Mollusc.
Who Should Use HSN Code 3042050?
Any business engaged in supplying Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish must apply HSN 3042050 on invoices. The Fish And Crustaceans, Mollusc category under Chapter 3 requires this classification for wholesalers, retailers, exporters, and online marketplaces alike.
Business Registration Requirements
Planning to trade in Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish? Complete GST registration to legally collect taxes on goods under HSN 3042050. Businesses importing or exporting Fish And Crustaceans, Mollusc products require an Import Export Code. AD Code registration is essential for exporters to process international payments. Entrepreneurs should secure company registration as the foundational step.
Why Correct Classification Matters
Using HSN Code 3042050 accurately for Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish avoids compliance issues and facilitates credit claims. Monitor changes to Nil/2.5%, Nil/2.5%, and Nil/5% rates for Chapter 3 – Fish And Crustaceans, Mollusc to maintain accurate filings and smooth business operations.
Frequently Asked Questions (FAQs)
What is the unit of measurement for HSN 3042050?
The standard unit of measurement for Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish under HSN Code 3042050 is kg.. All invoices and GST returns must reflect quantities using this measurement standard.
Is HSN Code 3042050 mandatory for small businesses?
Yes, businesses dealing in Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish must use HSN 3042050 on invoices regardless of their size. The number of digits required may vary based on turnover thresholds set by GST rules.
What happens if I use wrong HSN code for Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish?
Using incorrect classification can result in wrong tax calculation, rejected input credits, and penalties during assessment. Always verify HSN 3042050 for Fish And Crustaceans, Mollusc goods before invoicing.
Do I need AD Code registration for exporting Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish?
Yes, AD Code registration is required for exporters dealing in Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen Frozen Fillets Cuttlefish under Fish And Crustaceans, Mollusc. This registration links your bank account to process foreign currency payments from overseas buyers.
