HSN Code 72026000 provides the tax classification for Ferro-Alloys - Ferro-Nickel under Chapter 72 – Iron And Steel of the GST tariff. Businesses dealing in Ferro-Alloys - Ferro-Nickel must use this code for proper invoicing and return filing. Applicable taxes include CGST at 0.09, SGST/UTGST at 0.09, and IGST at 0.18. The recognized unit of measurement is kg..

HSN Codes under Chapter 72 – Iron And Steel

Below are related HSN codes from Chapter 72 – Iron And Steel for your reference:

Chapter HSN Code Description CGST SGST/UTGST IGST
Iron And Steel... 72011000 Pig Iron And Spiegeleisen In Pigs, Blocks Or Other... 0.09 0.09 0.18
Iron And Steel... 72012000 Pig Iron And Spiegeleisen In Pigs, Blocks Or Other... 0.09 0.09 0.18
Iron And Steel... 72015010 Pig Iron And Spiegeleisen In Pigs, Blocks Or Other... 9.00% 9.00% 18.00%
Iron And Steel... 72015090 Pig Iron And Spiegeleisen In Pigs, Blocks Or Other... 0.09 0.09 0.18
Iron And Steel... 72021100 Ferro-Alloys - Ferro-Manganese : Containing By Wei... 0.09 0.09 0.18
Iron And Steel... 72021900 Ferro-Alloys - Ferro-Manganese : Other 0.09 0.09 0.18
Iron And Steel... 72022100 Ferro-Alloys - Ferro-Silicon: Containing By Weight... 0.09 0.09 0.18
Iron And Steel... 72022900 Ferro-Alloys - Ferro-Silicon: Other 0.09 0.09 0.18
Iron And Steel... 72023000 Ferro-Alloys - Ferro-Silico-Manganese 0.09 0.09 0.18
Iron And Steel... 72024100 Ferro-Alloys - Ferro-Chromium : Containing By Weig... 0.09 0.09 0.18

GST Rates for HSN 72026000

The taxation of Ferro-Alloys - Ferro-Nickel under HSN Code 72026000 depends on supply location. Intrastate transactions require CGST at 0.09 and SGST/UTGST at 0.09. Interstate supplies are charged IGST at 0.18. Invoices should consistently use kg. for Iron And Steel goods under Chapter 72.

Who Should Use HSN Code 72026000?

Traders, manufacturers, and importers of Ferro-Alloys - Ferro-Nickel are required to mention HSN Code 72026000 on all GST documents. This Iron And Steel classification under Chapter 72 is mandatory for compliance across all business formats including online sellers.

Business Registration Requirements

Entering the Ferro-Alloys - Ferro-Nickel market requires essential registrations. GST registration enables legal tax collection on HSN 72026000 goods. For cross-border trade in Iron And Steel 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 72026000 for Ferro-Alloys - Ferro-Nickel streamlines audit processes and supports valid credit claims. Stay updated on 0.09, 0.09, and 0.18 rates for Chapter 72 – Iron And Steel through government circulars to ensure uninterrupted compliance.

Frequently Asked Questions (FAQs)

How many digits of HSN Code 72026000 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 72026000 for accurate classification of Ferro-Alloys - Ferro-Nickel.

Can I claim input tax credit on Ferro-Alloys - Ferro-Nickel purchases?

Yes, registered businesses can claim input tax credit on Ferro-Alloys - Ferro-Nickel purchases made under HSN 72026000. Ensure your supplier mentions correct HSN code and GST rates (0.09, 0.09) on the invoice.

What is the difference between CGST and IGST for HSN 72026000?

CGST at 0.09 plus SGST/UTGST at 0.09 applies when Ferro-Alloys - Ferro-Nickel is sold within the same state. IGST at 0.18 is charged when goods move across state borders or are imported.

Is Import Export Code necessary for trading Ferro-Alloys - Ferro-Nickel domestically?

No, Import Export Code is only required if you plan to import or export Ferro-Alloys - Ferro-Nickel internationally. For domestic trade within Iron And Steel, GST registration is sufficient.

More HSN codes from Chapter 72

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