What is HSN code 89031000?

HSN code 89031000 is a classification under the Harmonized System of Nomenclature used to identify goods for GST in India. The goods description and applicable GST rate are shown in the details on this page.

What is the GST rate for HSN code 89031000?

The GST rate applicable to HSN 89031000 is shown in the details above. GST rates are revised from time to time through CBIC notifications, so always confirm the current rate before raising an invoice.

How many digits does an HSN code have?

Under Indian GST, HSN codes are 2, 4, 6 or 8 digits. Businesses quote 4, 6 or 8 digits on invoices depending on turnover; code 89031000 follows this same structure.

What is the structure of HSN code 89031000?

An HSN code breaks down into a 2-digit Chapter, 4-digit Heading and 6-digit Sub-heading, extending to an 8-digit tariff item in India. Code 89031000 sits within this hierarchy.

Where is the HSN code used?

HSN codes are quoted on GST invoices and in GSTR-1 returns, and are used to classify goods for GST rate determination and customs.

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HSN Code & GST Rates for Yachts And Other Vessels :- 89031000

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HSN Code

89031000

Harmonized System of Nomenclature

Chapter: 89
Heading: 8903
Sub-heading: 890310
Type: Tariff item (8-digit)
Classification: HSN (GST)

Under the GST regime, HSN Code 89031000 classifies Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable within Chapter 89 – Ships, Boats And Floating Str. This code is essential for businesses to correctly calculate and remit taxes on Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable. The applicable rates are CGST at N.a., SGST/UTGST at N.a. for within-state sales, and IGST at N.a. for interstate supplies. Goods are quantified using N.a.

HSN Codes under Chapter 89 – Ships, Boats And Floating Str

Below are related HSN codes from Chapter 89 – Ships, Boats And Floating Str for your reference:

Chapter	HSN Code	Description	CGST	SGST/UTGST	IGST
Ships, Boats And Floating Str...	89011010	Cruise Ships, Excursion Boats , Ferry-Boats, Cargo...	N.a.	N.a.	N.a.
Ships, Boats And Floating Str...	89011020	Cruise Ships, Excursion Boats , Ferry-Boats, Cargo...	N.a.	N.a.	N.a.
Ships, Boats And Floating Str...	89011030	Cruise Ships, Excursion Boats , Ferry-Boats, Cargo...	N.a.	N.a.	N.a.
Ships, Boats And Floating Str...	89011040	Cruise Ships, Excursion Boats , Ferry-Boats, Cargo...	2.50%	2.50%	5.00%
Ships, Boats And Floating Str...	89011090	Cruise Ships, Excursion Boats , Ferry-Boats, Cargo...	0.025	0.025	0.05
Ships, Boats And Floating Str...	89012000	Cruise Ships, Excursion Boats , Ferry-Boats, Cargo...	0.025	0.025	0.05
Ships, Boats And Floating Str...	89013000	Cruise Ships, Excursion Boats , Ferry-Boats, Cargo...	0.025	0.025	0.05
Ships, Boats And Floating Str...	89019000	Cruise Ships, Excursion Boats , Ferry-Boats, Cargo...	0.025	0.025	0.05
Ships, Boats And Floating Str...	89020010	Fishing Vessels; Factory Ships And Other Vessels F...	2.50%	2.50%	5.00%
Ships, Boats And Floating Str...	89020090	Fishing Vessels; Factory Ships And Other Vessels F...	0.025	0.025	0.05

GST Rates for HSN 89031000

The taxation of Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable under HSN Code 89031000 depends on supply location. Intrastate transactions require CGST at N.a. and SGST/UTGST at N.a.. Interstate supplies are charged IGST at N.a.. Invoices should consistently use N.a for Ships, Boats And Floating Str goods under Chapter 89.

Who Should Use HSN Code 89031000?

Manufacturers, wholesalers, retailers, and exporters dealing in Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable are required to mention HSN 89031000 on all tax documents. This classification under Ships, Boats And Floating Str applies to businesses of all sizes operating within Chapter 89. Proper usage ensures accurate return filing and audit compliance.

Business Registration Requirements

Entering the Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable market requires essential registrations. GST registration enables legal tax collection on HSN 89031000 goods. For cross-border trade in Ships, Boats And Floating Str 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

Using HSN Code 89031000 accurately for Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable avoids compliance issues and facilitates credit claims. Monitor changes to N.a., N.a., and N.a. rates for Chapter 89 – Ships, Boats And Floating Str to maintain accurate filings and smooth business operations.

Frequently Asked Questions (FAQs)

Where can I find the official GST rate for HSN 89031000?

Official GST rates for Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable under HSN 89031000 are published in government notifications and the CBIC website. Current rates are CGST N.a., SGST/UTGST N.a., and IGST N.a..

Do online marketplaces need to mention HSN 89031000?

Yes, online marketplaces and e-commerce operators selling Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable must mention HSN Code 89031000 on invoices. This Ships, Boats And Floating Str classification applies to all sales channels under Chapter 89.

What documents are needed for company registration to trade in Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable?

For company registration, you need identity proof, address proof, and registered office documents. Once registered, apply for GST registration to start trading in Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable under HSN 89031000.

How often do GST rates change for Ships, Boats And Floating Str products?

GST rates for Yachts And Other Vessels For Pleasure Or Sports; Rowing Boats And Canoes Inflatable and other Ships, Boats And Floating Str products under Chapter 89 may change through GST Council recommendations. Monitor official notifications to stay updated on N.a., N.a., and N.a. revisions.