HSN Code 3042940 provides the tax classification for Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna under Chapter 3 – Fish And Crustaceans, Mollusc of the GST tariff. Businesses dealing in Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna must use this code for proper invoicing and return filing. Applicable taxes include CGST at Nil/2.5%, SGST/UTGST at Nil/2.5%, and IGST at Nil/5%. The recognized 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 3042940
Tax liability for Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna under HSN 3042940 varies by transaction geography. CGST at Nil/2.5% combined with SGST/UTGST at Nil/2.5% applies to local sales. Interstate movement attracts IGST at Nil/5%. All billing for Chapter 3 – Fish And Crustaceans, Mollusc products must use kg..
Who Should Use HSN Code 3042940?
Every entity transacting in Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna must quote HSN Code 3042940 on invoices. This includes traders, distributors, and e-commerce sellers operating under Fish And Crustaceans, Mollusc. Chapter 3 mandates this classification for accurate tax computation across the supply chain.
Business Registration Requirements
Starting a business involving Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna? GST registration is mandatory for collecting and remitting taxes on HSN 3042940 goods. Companies planning international trade within Fish And Crustaceans, Mollusc 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
Proper use of HSN Code 3042940 for Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna streamlines audit processes and supports valid credit claims. Stay updated on Nil/2.5%, Nil/2.5%, and Nil/5% rates for Chapter 3 – Fish And Crustaceans, Mollusc through government circulars to ensure uninterrupted compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 3042940 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 3042940 for accurate classification of Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna.
Can I claim input tax credit on Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna purchases?
Yes, registered businesses can claim input tax credit on Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna purchases made under HSN 3042940. Ensure your supplier mentions correct HSN code and GST rates (Nil/2.5%, Nil/2.5%) on the invoice.
What is the difference between CGST and IGST for HSN 3042940?
CGST at Nil/2.5% plus SGST/UTGST at Nil/2.5% applies when Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna is sold within the same state. IGST at Nil/5% is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna domestically?
No, Import Export Code is only required if you plan to import or export Fish Fillets And Other Fish Meat(Whether Or Not Minced), Fresh,Chilled Or Frozen- Frozen Fillets: --Other --- Tuna internationally. For domestic trade within Fish And Crustaceans, Mollusc, GST registration is sufficient.
