Under the GST regime, HSN Code 3045500 classifies Toothfish (Dissostichus Spp.) within Chapter 3 – Fish And Crustaceans, Mollusc. This code is essential for businesses to correctly calculate and remit taxes on Toothfish (Dissostichus Spp.). The applicable rates are CGST at Nil/2.5%, SGST/UTGST at Nil/2.5% for within-state sales, and IGST at Nil/5% for interstate supplies. Goods are quantified using 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 3045500
Goods classified as Toothfish (Dissostichus Spp.) under HSN 3045500 are taxed based on transaction type. Local sales attract CGST at Nil/2.5% plus SGST/UTGST at Nil/2.5%. For supplies crossing state boundaries, IGST at Nil/5% applies. Documentation must reflect kg. as the measurement standard for Chapter 3 – Fish And Crustaceans, Mollusc products.
Who Should Use HSN Code 3045500?
Any business engaged in supplying Toothfish (Dissostichus Spp.) must apply HSN 3045500 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
Starting a business involving Toothfish (Dissostichus Spp.)? GST registration is mandatory for collecting and remitting taxes on HSN 3045500 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
Accurate application of HSN Code 3045500 for Toothfish (Dissostichus Spp.) enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 3 – Fish And Crustaceans, Mollusc should monitor rate updates (Nil/2.5%, Nil/2.5%, Nil/5%) through official notifications to maintain seamless compliance.
Frequently Asked Questions (FAQs)
What is the unit of measurement for HSN 3045500?
The standard unit of measurement for Toothfish (Dissostichus Spp.) under HSN Code 3045500 is kg.. All invoices and GST returns must reflect quantities using this measurement standard.
Is HSN Code 3045500 mandatory for small businesses?
Yes, businesses dealing in Toothfish (Dissostichus Spp.) must use HSN 3045500 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 Toothfish (Dissostichus Spp.)?
Using incorrect classification can result in wrong tax calculation, rejected input credits, and penalties during assessment. Always verify HSN 3045500 for Fish And Crustaceans, Mollusc goods before invoicing.
Do I need AD Code registration for exporting Toothfish (Dissostichus Spp.)?
Yes, AD Code registration is required for exporters dealing in Toothfish (Dissostichus Spp.) under Fish And Crustaceans, Mollusc. This registration links your bank account to process foreign currency payments from overseas buyers.
