71039921 is the designated HSN classification for Moonstone, categorized under Chapter 71 – Natural Or Cultured Pearls, P in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Moonstone must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 0.13%, SGST/UTGST at 0.13% for local transactions, and IGST at 0.25% for interstate supplies. Quantities are measured in c/k for billing purposes.

HSN Codes under Chapter 71 – Natural Or Cultured Pearls, P

Below are related HSN codes from Chapter 71 – Natural Or Cultured Pearls, P for your reference:

Chapter HSN Code Description CGST SGST/UTGST IGST
Natural Or Cultured Pearls, P... 71011010 Pearls, Natural Or Cultured, Whether Or Not Worked... 1.50% 1.50% 3.00%
Natural Or Cultured Pearls, P... 71011020 Pearls, Natural Or Cultured, Whether Or Not Worked... 0.015 0.015 0.03
Natural Or Cultured Pearls, P... 71012100 Pearls, Natural Or Cultured, Whether Or Not Worked... 0.015 0.015 0.03
Natural Or Cultured Pearls, P... 71012200 Pearls, Natural Or Cultured, Whether Or Not Worked... 0.015 0.015 0.03
Natural Or Cultured Pearls, P... 71021000 Diamonds, Whether Or Not Worked, But Not Mounted O... 0 0 0
Natural Or Cultured Pearls, P... 71022110 21 Diamonds, Whether Or Not Worked, But Not Mounte... 0.00% 0.00% 0.00%
Natural Or Cultured Pearls, P... 71022120 21 Diamonds, Whether Or Not Worked, But Not Mounte... 0 0 0
Natural Or Cultured Pearls, P... 71022910 Diamonds, Whether Or Not Worked, But Not Mounted O... 0.00% 0.00% 0.00%
Natural Or Cultured Pearls, P... 71022990 Diamonds, Whether Or Not Worked, But Not Mounted O... 0 0 0
Natural Or Cultured Pearls, P... 71023100 Diamonds, Whether Or Not Worked, But Not Mounted O... 0 0 0

GST Rates for HSN 71039921

For Moonstone classified under HSN Code 71039921, tax computation follows GST principles. CGST at 0.13% plus SGST/UTGST at 0.13% covers intrastate sales. IGST at 0.25% applies to interstate transactions. c/k is the prescribed measurement for Natural Or Cultured Pearls, P under Chapter 71.

Who Should Use HSN Code 71039921?

Any business engaged in supplying Moonstone must apply HSN 71039921 on invoices. The Natural Or Cultured Pearls, P category under Chapter 71 requires this classification for wholesalers, retailers, exporters, and online marketplaces alike.

Business Registration Requirements

Commencing trade in Moonstone? Secure GST registration to handle taxes on HSN 71039921 classified goods. Businesses with international operations in Natural Or Cultured Pearls, P 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

Correct HSN Code 71039921 application for Moonstone ensures smooth input credit utilization and assessment processes. Track 0.13%, 0.13%, and 0.25% rate changes for Chapter 71 – Natural Or Cultured Pearls, P through official notifications for continuous compliance.

Frequently Asked Questions (FAQs)

What is HSN Code 71039921 used for?

HSN Code 71039921 is used to classify Moonstone under Chapter 71 – Natural Or Cultured Pearls, P for GST purposes. Businesses must mention this code on invoices to ensure correct tax calculation and compliance.

What are the GST rates applicable on HSN 71039921?

For Moonstone, CGST applies at 0.13% and SGST/UTGST at 0.13% for intrastate supplies. Interstate transactions are taxed under IGST at 0.25%.

Do I need GST registration to trade in Moonstone?

Yes, GST registration is mandatory for businesses dealing in Moonstone under HSN 71039921. This enables you to legally collect taxes and claim input credits on purchases.

What registrations are required for importing Moonstone?

For importing goods under Natural Or Cultured Pearls, P, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.

More HSN codes from Chapter 71

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