HSN Code 71039959 provides the tax classification for Other under Chapter 71 – Natural Or Cultured Pearls, P of the GST tariff. Businesses dealing in Other must use this code for proper invoicing and return filing. Applicable taxes include CGST at 0.13%, SGST/UTGST at 0.13%, and IGST at 0.25%. The recognized unit of measurement is c/k.
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 71039959
Goods classified as Other under HSN 71039959 are taxed based on transaction type. Local sales attract CGST at 0.13% plus SGST/UTGST at 0.13%. For supplies crossing state boundaries, IGST at 0.25% applies. Documentation must reflect c/k as the measurement standard for Chapter 71 – Natural Or Cultured Pearls, P products.
Who Should Use HSN Code 71039959?
Manufacturers, wholesalers, retailers, and exporters dealing in Other are required to mention HSN 71039959 on all tax documents. This classification under Natural Or Cultured Pearls, P applies to businesses of all sizes operating within Chapter 71. Proper usage ensures accurate return filing and audit compliance.
Business Registration Requirements
Commencing trade in Other? Secure GST registration to handle taxes on HSN 71039959 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
Accurate HSN Code 71039959 usage for Other simplifies reconciliation and protects against penalties. Keep current with 0.13%, 0.13%, and 0.25% updates for Chapter 71 – Natural Or Cultured Pearls, P to ensure ongoing compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 71039959 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 71039959 for accurate classification of Other.
Can I claim input tax credit on Other purchases?
Yes, registered businesses can claim input tax credit on Other purchases made under HSN 71039959. Ensure your supplier mentions correct HSN code and GST rates (0.13%, 0.13%) on the invoice.
What is the difference between CGST and IGST for HSN 71039959?
CGST at 0.13% plus SGST/UTGST at 0.13% applies when Other is sold within the same state. IGST at 0.25% is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Other domestically?
No, Import Export Code is only required if you plan to import or export Other internationally. For domestic trade within Natural Or Cultured Pearls, P, GST registration is sufficient.
