What is HSN code 45031000?

HSN code 45031000 is a classification under the Harmonized System of Nomenclature used to identify goods for GST in India. The goods description and applicable GST rate are shown in the details on this page.

What is the GST rate for HSN code 45031000?

The GST rate applicable to HSN 45031000 is shown in the details above. GST rates are revised from time to time through CBIC notifications, so always confirm the current rate before raising an invoice.

How many digits does an HSN code have?

Under Indian GST, HSN codes are 2, 4, 6 or 8 digits. Businesses quote 4, 6 or 8 digits on invoices depending on turnover; code 45031000 follows this same structure.

What is the structure of HSN code 45031000?

An HSN code breaks down into a 2-digit Chapter, 4-digit Heading and 6-digit Sub-heading, extending to an 8-digit tariff item in India. Code 45031000 sits within this hierarchy.

Where is the HSN code used?

HSN codes are quoted on GST invoices and in GSTR-1 returns, and are used to classify goods for GST rate determination and customs.

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HSN Code & GST Rates for Articles Of Natural Cork :- 45031000

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HSN Code

45031000

Harmonized System of Nomenclature

Chapter: 45
Heading: 4503
Sub-heading: 450310
Type: Tariff item (8-digit)
Classification: HSN (GST)

Under the GST regime, HSN Code 45031000 classifies Articles Of Natural Cork - Corks And Stoppers within Chapter 45 – Cork And Articles Of Cork. This code is essential for businesses to correctly calculate and remit taxes on Articles Of Natural Cork - Corks And Stoppers. The applicable rates are CGST at 0.06, SGST/UTGST at 0.06 for within-state sales, and IGST at 0.12 for interstate supplies. Goods are quantified using kg..

HSN Codes under Chapter 45 – Cork And Articles Of Cork

Below are related HSN codes from Chapter 45 – Cork And Articles Of Cork for your reference:

Chapter	HSN Code	Description	CGST	SGST/UTGST	IGST
Cork And Articles Of Cork...	45011000	Natural Cork, Raw Or Simply Prepared; Waste Cork; ...	0.025	0.025	0.05
Cork And Articles Of Cork...	45019000	Natural Cork, Raw Or Simply Prepared; Waste Cork; ...	0.09	0.09	0.18
Cork And Articles Of Cork...	45020000	Natural Cork, Debacked Or Roughly Squared, Or In R...	0.06	0.06	0.12
Cork And Articles Of Cork...	45031000	Articles Of Natural Cork - Corks And Stoppers	0.06	0.06	0.12
Cork And Articles Of Cork...	45039010	Articles Of Natural Cork - Other : Shuttlecock Cor...	6.00%	6.00%	12.00%
Cork And Articles Of Cork...	45039090	Articles Of Natural Cork - Other : Other	0.06	0.06	0.12
Cork And Articles Of Cork...	45041010	Agglomerated Cork (With Or Without A Binding Subst...	6.00%	6.00%	12.00%
Cork And Articles Of Cork...	45041020	Agglomerated Cork (With Or Without A Binding Subst...	6.00%	6.00%	12.00%
Cork And Articles Of Cork...	45041090	Agglomerated Cork (With Or Without A Binding Subst...	0.06	0.06	0.12
Cork And Articles Of Cork...	45049000	Agglomerated Cork (With Or Without A Binding Subst...	0.06	0.06	0.12

GST Rates for HSN 45031000

The taxation of Articles Of Natural Cork - Corks And Stoppers under HSN Code 45031000 depends on supply location. Intrastate transactions require CGST at 0.06 and SGST/UTGST at 0.06. Interstate supplies are charged IGST at 0.12. Invoices should consistently use kg. for Cork And Articles Of Cork goods under Chapter 45.

Who Should Use HSN Code 45031000?

Manufacturers, wholesalers, retailers, and exporters dealing in Articles Of Natural Cork - Corks And Stoppers are required to mention HSN 45031000 on all tax documents. This classification under Cork And Articles Of Cork applies to businesses of all sizes operating within Chapter 45. Proper usage ensures accurate return filing and audit compliance.

Business Registration Requirements

Planning to trade in Articles Of Natural Cork - Corks And Stoppers? Complete GST registration to legally collect taxes on goods under HSN 45031000. Businesses importing or exporting Cork And Articles Of Cork products require an Import Export Code. AD Code registration is essential for exporters to process international payments. Entrepreneurs should secure company registration as the foundational step.

Why Correct Classification Matters

Accurate application of HSN Code 45031000 for Articles Of Natural Cork - Corks And Stoppers enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 45 – Cork And Articles Of Cork should monitor rate updates (0.06, 0.06, 0.12) through official notifications to maintain seamless compliance.

Frequently Asked Questions (FAQs)

What is the unit of measurement for HSN 45031000?

The standard unit of measurement for Articles Of Natural Cork - Corks And Stoppers under HSN Code 45031000 is kg.. All invoices and GST returns must reflect quantities using this measurement standard.

Is HSN Code 45031000 mandatory for small businesses?

Yes, businesses dealing in Articles Of Natural Cork - Corks And Stoppers must use HSN 45031000 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 Articles Of Natural Cork - Corks And Stoppers?

Using incorrect classification can result in wrong tax calculation, rejected input credits, and penalties during assessment. Always verify HSN 45031000 for Cork And Articles Of Cork goods before invoicing.

Do I need AD Code registration for exporting Articles Of Natural Cork - Corks And Stoppers?

Yes, AD Code registration is required for exporters dealing in Articles Of Natural Cork - Corks And Stoppers under Cork And Articles Of Cork. This registration links your bank account to process foreign currency payments from overseas buyers.