HSN Code 87060041 provides the tax classification for 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle under Chapter 87 – Vehicles Other Than Railway O of the GST tariff. Businesses dealing in 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle must use this code for proper invoicing and return filing. Applicable taxes include CGST at 14.00%, SGST/UTGST at 14.00%, and IGST at 28.00%. The recognized unit of measurement is u.
HSN Codes under Chapter 87 – Vehicles Other Than Railway O
Below are related HSN codes from Chapter 87 – Vehicles Other Than Railway O for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Vehicles Other Than Railway O... | 87011000 | Tractors (Other Than Tractors Of Heading 8709) Ped... | 0 | 0 | 0 |
| Vehicles Other Than Railway O... | 87012010 | Tractors (Other Than Tractors Of Heading 8709) Roa... | N.a. | N.a. | N.a. |
| Vehicles Other Than Railway O... | 87012090 | Tractors (Other Than Tractors Ofheading 8709) Road... | N.a. | N.a. | N.a. |
| Vehicles Other Than Railway O... | 87012100 | Vehicles Other Than Railway Or Tramway Rolling-Sto... | 0 | 0 | 0 |
| Vehicles Other Than Railway O... | 87012200 | Vehicles Other Than Railway Or Tramway Rolling-Sto... | 0 | 0 | 0 |
| Vehicles Other Than Railway O... | 87012300 | Vehicles Other Than Railway Or Tramway Rolling-Sto... | 0 | 0 | 0 |
| Vehicles Other Than Railway O... | 87012400 | Vehicles Other Than Railway Or Tramway Rolling-Sto... | 0 | 0 | 0 |
| Vehicles Other Than Railway O... | 87012900 | Vehicles Other Than Railway Or Tramway Rolling-Sto... | 0 | 0 | 0 |
| Vehicles Other Than Railway O... | 87013011 | Tractors (Other Than Tractors Ofheading 8709 Track... | 0.00% | 0.00% | 0.00% |
| Vehicles Other Than Railway O... | 87013019 | Tractors (Other Than Tractors Ofheading 8709 Track... | 0.00% | 0.00% | 0.00% |
GST Rates for HSN 87060041
The tax structure for 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle under HSN Code 87060041 follows a dual taxation model. CGST is levied at 14.00% and SGST/UTGST at 14.00% for intrastate sales. Interstate transactions attract IGST at 28.00%. All invoices must record quantities in u as the standard measurement for goods under Chapter 87 – Vehicles Other Than Railway O.
Who Should Use HSN Code 87060041?
Every entity transacting in 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle must quote HSN Code 87060041 on invoices. This includes traders, distributors, and e-commerce sellers operating under Vehicles Other Than Railway O. Chapter 87 mandates this classification for accurate tax computation across the supply chain.
Business Registration Requirements
Planning to trade in 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle? Complete GST registration to legally collect taxes on goods under HSN 87060041. Businesses importing or exporting Vehicles Other Than Railway O 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 HSN Code 87060041 usage for 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle simplifies reconciliation and protects against penalties. Keep current with 14.00%, 14.00%, and 28.00% updates for Chapter 87 – Vehicles Other Than Railway O to ensure ongoing compliance.
Frequently Asked Questions (FAQs)
What is HSN Code 87060041 used for?
HSN Code 87060041 is used to classify 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle under Chapter 87 – Vehicles Other Than Railway O 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 87060041?
For 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle, CGST applies at 14.00% and SGST/UTGST at 14.00% for intrastate supplies. Interstate transactions are taxed under IGST at 28.00%.
Do I need GST registration to trade in 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle?
Yes, GST registration is mandatory for businesses dealing in 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle under HSN 87060041. This enables you to legally collect taxes and claim input credits on purchases.
What registrations are required for importing 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Three-Wheeled Motor Vehicle?
For importing goods under Vehicles Other Than Railway O, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.
