40040000 is the designated HSN classification for Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom, categorized under Chapter 40 – Rubber And Articles Thereof in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 0.025, SGST/UTGST at 0.025 for local transactions, and IGST at 0.05 for interstate supplies. Quantities are measured in 0 for billing purposes.
HSN Codes under Chapter 40 – Rubber And Articles Thereof
Below are related HSN codes from Chapter 40 – Rubber And Articles Thereof for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Rubber And Articles Thereof... | 40011010 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 2.50% | 2.50% | 5.00% |
| Rubber And Articles Thereof... | 40011020 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 0.025 | 0.025 | 0.05 |
| Rubber And Articles Thereof... | 40012100 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 0.025 | 0.025 | 0.05 |
| Rubber And Articles Thereof... | 40012200 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 0.025 | 0.025 | 0.05 |
| Rubber And Articles Thereof... | 40012910 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 2.50% | 2.50% | 5.00% |
| Rubber And Articles Thereof... | 40012920 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 2.50% | 2.50% | 5.00% |
| Rubber And Articles Thereof... | 40012930 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 2.50% | 2.50% | 5.00% |
| Rubber And Articles Thereof... | 40012940 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 2.50% | 2.50% | 5.00% |
| Rubber And Articles Thereof... | 40012990 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 0.025 | 0.025 | 0.05 |
| Rubber And Articles Thereof... | 40013000 | Natural Rubber, Balata, Gutta-Percha, Guayule, Chi... | 0.025 | 0.025 | 0.05 |
GST Rates for HSN 40040000
The tax structure for Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom under HSN Code 40040000 follows a dual taxation model. CGST is levied at 0.025 and SGST/UTGST at 0.025 for intrastate sales. Interstate transactions attract IGST at 0.05. All invoices must record quantities in 0 as the standard measurement for goods under Chapter 40 – Rubber And Articles Thereof.
Who Should Use HSN Code 40040000?
Any business engaged in supplying Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom must apply HSN 40040000 on invoices. The Rubber And Articles Thereof category under Chapter 40 requires this classification for wholesalers, retailers, exporters, and online marketplaces alike.
Business Registration Requirements
Looking to deal in Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom? GST registration is your first compliance requirement for HSN 40040000 goods. International traders in Rubber And Articles Thereof products must obtain an Import Export Code. AD Code registration facilitates export payment processing. Company registration should precede all other business approvals.
Why Correct Classification Matters
Accurate HSN Code 40040000 usage for Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom simplifies reconciliation and protects against penalties. Keep current with 0.025, 0.025, and 0.05 updates for Chapter 40 – Rubber And Articles Thereof to ensure ongoing compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 40040000 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 40040000 for accurate classification of Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom.
Can I claim input tax credit on Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom purchases?
Yes, registered businesses can claim input tax credit on Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom purchases made under HSN 40040000. Ensure your supplier mentions correct HSN code and GST rates (0.025, 0.025) on the invoice.
What is the difference between CGST and IGST for HSN 40040000?
CGST at 0.025 plus SGST/UTGST at 0.025 applies when Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom is sold within the same state. IGST at 0.05 is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom domestically?
No, Import Export Code is only required if you plan to import or export Waste, Parings And Scrap Of Rubber (Other Than Hard Rubber) And Powders And Granules Obtained Therefrom internationally. For domestic trade within Rubber And Articles Thereof, GST registration is sufficient.
