HSN Code 87060042 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 Vehicles, Other Than Petrol Driven 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 Vehicles, Other Than Petrol Driven 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 87060042
Goods classified as 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Vehicles, Other Than Petrol Driven under HSN 87060042 are taxed based on transaction type. Local sales attract CGST at 14.00% plus SGST/UTGST at 14.00%. For supplies crossing state boundaries, IGST at 28.00% applies. Documentation must reflect u as the measurement standard for Chapter 87 – Vehicles Other Than Railway O products.
Who Should Use HSN Code 87060042?
Manufacturers, wholesalers, retailers, and exporters dealing in 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Vehicles, Other Than Petrol Driven are required to mention HSN 87060042 on all tax documents. This classification under Vehicles Other Than Railway O applies to businesses of all sizes operating within Chapter 87. Proper usage ensures accurate return filing and audit compliance.
Business Registration Requirements
Looking to deal in 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Vehicles, Other Than Petrol Driven? GST registration is your first compliance requirement for HSN 87060042 goods. International traders in Vehicles Other Than Railway O 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
Using HSN Code 87060042 accurately for 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Vehicles, Other Than Petrol Driven avoids compliance issues and facilitates credit claims. Monitor changes to 14.00%, 14.00%, and 28.00% rates for Chapter 87 – Vehicles Other Than Railway O to maintain accurate filings and smooth business operations.
Frequently Asked Questions (FAQs)
What is HSN Code 87060042 used for?
HSN Code 87060042 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 Vehicles, Other Than Petrol Driven 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 87060042?
For 8706 Chassis Fitted With Engines, For The Motor Vehicles Of Headings 8701 To 8705 For The Motor Vehicles Of Heading 8704: For Vehicles, Other Than Petrol Driven, 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 Vehicles, Other Than Petrol Driven?
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 Vehicles, Other Than Petrol Driven under HSN 87060042. 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 Vehicles, Other Than Petrol Driven?
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.
