Under the GST regime, HSN Code 40070020 classifies Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered within Chapter 40 – Rubber And Articles Thereof. This code is essential for businesses to correctly calculate and remit taxes on Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered. The applicable rates are CGST at 9.00%, SGST/UTGST at 9.00% for within-state sales, and IGST at 18.00% for interstate supplies. Goods are quantified using kg..
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 40070020
For Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered classified under HSN Code 40070020, tax computation follows GST principles. CGST at 9.00% plus SGST/UTGST at 9.00% covers intrastate sales. IGST at 18.00% applies to interstate transactions. kg. is the prescribed measurement for Rubber And Articles Thereof under Chapter 40.
Who Should Use HSN Code 40070020?
Traders, manufacturers, and importers of Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered are required to mention HSN Code 40070020 on all GST documents. This Rubber And Articles Thereof classification under Chapter 40 is mandatory for compliance across all business formats including online sellers.
Business Registration Requirements
Entering the Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered market requires essential registrations. GST registration enables legal tax collection on HSN 40070020 goods. For cross-border trade in Rubber And Articles Thereof items, secure an Import Export Code. Exporters additionally need AD Code registration for bank processing. Begin with company registration to establish your business entity.
Why Correct Classification Matters
Proper use of HSN Code 40070020 for Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered streamlines audit processes and supports valid credit claims. Stay updated on 9.00%, 9.00%, and 18.00% rates for Chapter 40 – Rubber And Articles Thereof through government circulars to ensure uninterrupted compliance.
Frequently Asked Questions (FAQs)
What is the unit of measurement for HSN 40070020?
The standard unit of measurement for Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered under HSN Code 40070020 is kg.. All invoices and GST returns must reflect quantities using this measurement standard.
Is HSN Code 40070020 mandatory for small businesses?
Yes, businesses dealing in Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered must use HSN 40070020 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 Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered?
Using incorrect classification can result in wrong tax calculation, rejected input credits, and penalties during assessment. Always verify HSN 40070020 for Rubber And Articles Thereof goods before invoicing.
Do I need AD Code registration for exporting Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered?
Yes, AD Code registration is required for exporters dealing in Vulcanised Rubber Thread And Cord - Vulcanised Rubber Thread And Cord : Cord, Not Covered under Rubber And Articles Thereof. This registration links your bank account to process foreign currency payments from overseas buyers.
