31042000 is the designated HSN classification for Mineral Or Chemical Fertilisers, Potassic Potassium Chloride, categorized under Chapter 31 – Fertilizers in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Mineral Or Chemical Fertilisers, Potassic Potassium Chloride must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 2.5/9%, SGST/UTGST at 2.5/9% for local transactions, and IGST at 5/18% for interstate supplies. Quantities are measured in kg. for billing purposes.
HSN Codes under Chapter 31 – Fertilizers
Below are related HSN codes from Chapter 31 – Fertilizers for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Fertilizers... | 31010010 | Animal Or Vegetable Fertilisers, Whether Or Not Mi... | Nil/2.5% | Nil/2.5% | Nil/5% |
| Fertilizers... | 31010091 | Animal Or Vegetable Fertilisers, Whether Or Not Mi... | Nil/2.5% | Nil/2.5% | Nil/5% |
| Fertilizers... | 31010092 | Animal Or Vegetable Fertilisers, Whether Or Not Mi... | Nil/2.5% | Nil/2.5% | Nil/5% |
| Fertilizers... | 31010099 | Animal Or Vegetable Fertilisers, Whether Or Not Mi... | Nil/2.5% | Nil/2.5% | Nil/5% |
| Fertilizers... | 31021000 | Mineral Or Chemical Fertilisers, Nitrogenous Urea,... | 2.5%/9% | 2.5%/9% | 5%/18% |
| Fertilizers... | 31021010 | Mineral Or Chemical Fertilizers, Nitrogenous- Ure... | 2.5%/9% | 2.5%/9% | 5%/18% |
| Fertilizers... | 31021090 | Mineral Or Chemical Fertilizers, Nitrogenous - Ure... | 2.5%/9% | 2.5%/9% | 5%/18% |
| Fertilizers... | 31022100 | Mineral Or Chemical Fertilisers, Nitrogenous Ammon... | 2.5%/9% | 2.5%/9% | 5%/18% |
| Fertilizers... | 31022910 | Mineral Or Chemical Fertilisers, Nitrogenous Ammon... | 2.5%/9% | 2.5%/9% | 5%/18% |
| Fertilizers... | 31022990 | Mineral Or Chemical Fertilisers, Nitrogenous Ammon... | 2.5%/9% | 2.5%/9% | 5%/18% |
GST Rates for HSN 31042000
For Mineral Or Chemical Fertilisers, Potassic Potassium Chloride classified under HSN Code 31042000, tax computation follows GST principles. CGST at 2.5/9% plus SGST/UTGST at 2.5/9% covers intrastate sales. IGST at 5/18% applies to interstate transactions. kg. is the prescribed measurement for Fertilizers under Chapter 31.
Who Should Use HSN Code 31042000?
Traders, manufacturers, and importers of Mineral Or Chemical Fertilisers, Potassic Potassium Chloride are required to mention HSN Code 31042000 on all GST documents. This Fertilizers classification under Chapter 31 is mandatory for compliance across all business formats including online sellers.
Business Registration Requirements
Commencing trade in Mineral Or Chemical Fertilisers, Potassic Potassium Chloride? Secure GST registration to handle taxes on HSN 31042000 classified goods. Businesses with international operations in Fertilizers 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
Accurate application of HSN Code 31042000 for Mineral Or Chemical Fertilisers, Potassic Potassium Chloride enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 31 – Fertilizers should monitor rate updates (2.5/9%, 2.5/9%, 5/18%) through official notifications to maintain seamless compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 31042000 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 31042000 for accurate classification of Mineral Or Chemical Fertilisers, Potassic Potassium Chloride.
Can I claim input tax credit on Mineral Or Chemical Fertilisers, Potassic Potassium Chloride purchases?
Yes, registered businesses can claim input tax credit on Mineral Or Chemical Fertilisers, Potassic Potassium Chloride purchases made under HSN 31042000. Ensure your supplier mentions correct HSN code and GST rates (2.5/9%, 2.5/9%) on the invoice.
What is the difference between CGST and IGST for HSN 31042000?
CGST at 2.5/9% plus SGST/UTGST at 2.5/9% applies when Mineral Or Chemical Fertilisers, Potassic Potassium Chloride is sold within the same state. IGST at 5/18% is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Mineral Or Chemical Fertilisers, Potassic Potassium Chloride domestically?
No, Import Export Code is only required if you plan to import or export Mineral Or Chemical Fertilisers, Potassic Potassium Chloride internationally. For domestic trade within Fertilizers, GST registration is sufficient.
