Chapter 74 of the GST framework covers Copper And Articles Thereof, and HSN Code 74040023 specifically identifies Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr... for taxation purposes. This classification is mandatory for all businesses engaged in the supply of Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr.... Tax rates applicable include CGST at N.a., SGST/UTGST at N.a., and IGST at N.a. for interstate movements. The standard unit of measurement is N.a.
HSN Codes under Chapter 74 – Copper And Articles Thereof
Below are related HSN codes from Chapter 74 – Copper And Articles Thereof for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Copper And Articles Thereof... | 74010010 | Copper Mattes; Cement Copper (Precipitated Copper)... | 9.00% | 9.00% | 18.00% |
| Copper And Articles Thereof... | 74010090 | Copper Mattes; Cement Copper (Precipitated Copper)... | 0.09 | 0.09 | 0.18 |
| Copper And Articles Thereof... | 74011000 | Copper Mattes; Cement Copper (Precipitated Copper)... | N.a. | N.a. | N.a. |
| Copper And Articles Thereof... | 74012000 | Copper Mattes; Cement Copper (Precipitated Copper)... | N.a. | N.a. | N.a. |
| Copper And Articles Thereof... | 74020010 | Unrefined Copper; Copper Anodes For Electrolytic R... | 9.00% | 9.00% | 18.00% |
| Copper And Articles Thereof... | 74020090 | Unrefined Copper; Copper Anodes For Electrolytic R... | 0.09 | 0.09 | 0.18 |
| Copper And Articles Thereof... | 74031100 | Refined Copper And Copper Alloys, Unwrought - Refi... | 0.09 | 0.09 | 0.18 |
| Copper And Articles Thereof... | 74031200 | Refined Copper And Copper Alloys, Unwrought - Refi... | 0.09 | 0.09 | 0.18 |
| Copper And Articles Thereof... | 74031300 | Refined Copper And Copper Alloys, Unwrought - Refi... | 0.09 | 0.09 | 0.18 |
| Copper And Articles Thereof... | 74031900 | Refined Copper And Copper Alloys, Unwrought - Refi... | 0.09 | 0.09 | 0.18 |
GST Rates for HSN 74040023
The tax structure for Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr... under HSN Code 74040023 follows a dual taxation model. CGST is levied at N.a. and SGST/UTGST at N.a. for intrastate sales. Interstate transactions attract IGST at N.a.. All invoices must record quantities in N.a as the standard measurement for goods under Chapter 74 – Copper And Articles Thereof.
Who Should Use HSN Code 74040023?
All businesses supplying Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr... are obligated to use HSN 74040023 on tax invoices. From producers to retailers within Copper And Articles Thereof, Chapter 74 classification ensures uniform tax treatment. This requirement applies regardless of turnover or business model.
Business Registration Requirements
Looking to deal in Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr...? GST registration is your first compliance requirement for HSN 74040023 goods. International traders in Copper And Articles Thereof products must obtain an Import Export Code. AD Code registration facilitates export payment processing. Company registration should precede all other business approvals.
Why Correct Classification Matters
Proper use of HSN Code 74040023 for Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr... streamlines audit processes and supports valid credit claims. Stay updated on N.a., N.a., and N.a. rates for Chapter 74 – Copper And Articles Thereof through government circulars to ensure uninterrupted compliance.
Frequently Asked Questions (FAQs)
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 74040023 for accurate classification of Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr....
Yes, registered businesses can claim input tax credit on Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr... purchases made under HSN 74040023. Ensure your supplier mentions correct HSN code and GST rates (N.a., N.a.) on the invoice.
CGST at N.a. plus SGST/UTGST at N.a. applies when Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr... is sold within the same state. IGST at N.a. is charged when goods move across state borders or are imported.
No, Import Export Code is only required if you plan to import or export Copper Waste And Scrap - Copper Waste And Scrap--- Of Copper Alloys ----Nickel Silver Scrap Namely The Following: Mixed New Nickel Silver Clippings Covered By Isri Code Word 'Maize', New Nickel Silver Clippings Covered By Isri Code Word 'Major', New Segr... internationally. For domestic trade within Copper And Articles Thereof, GST registration is sufficient.