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HSN Code - 01023900 : Buffalo (Other)

Policy: Restricted
HSN CODE Description Policy
0102LIVE BOVINE ANIMALS
010239Buffalo
01023900OtherRestricted

Harmonised System of Nomenclature (HSN Codes) 01023900 are used for the LIVE BOVINE ANIMALS Other products under Goods and Service Tax classification.

India was originally using 6 digit HSN codes to classify commodities but later two more digits were added to make the codes more precise, resulting in an 8 digit classification.

Understanding HSN Code 01023900

First two digits (01) represent the chapter number which is Chapter 01 - Live animals

Next two digits (02) represent the heading number which is LIVE BOVINE ANIMALS

Next two digits (39) represent the product code which is Buffalo

Last two digits (00) are for final or deeper classification which is Other

All 8 digits of HSN code is mandatory for export & imports for tax invoice of GST.

FAQs on HSN Code 01023900

What is HSN Code 01023900 used for?

HSN Code 01023900 is used to classify goods under GST for invoicing, taxation, import, and export. Businesses use this code to correctly identify products while filing GST returns and trade documents.

Is HSN Code 01023900 mandatory for GST invoices?

Yes. HSN codes are mandatory on GST invoices for most businesses, especially for B2B transactions, exports, and imports. The level of digits required depends on turnover and transaction type.

What is the GST rate for HSN Code 01023900?

The GST rate for HSN Code 01023900 depends on the product specification and the latest GST notifications. Businesses should verify the applicable rate from CBIC notifications or consult a tax professional before invoicing.

What is the import or export policy for HSN Code 01023900?

As per current trade policy, HSN Code 01023900 falls under "Restricted" category. Import or export may be subject to specific conditions or approvals.

What is the difference between HSN Code and SAC Code?

HSN codes are used for goods or products, while SAC codes are used for services. Businesses dealing in both goods and services must use the correct code type for GST compliance.