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HSN Code - 27030010 : Peat (including peat litter), whether or not agglomerated (Peat whether or not compressed into bales, but not agglomerated)
| HSN CODE | Description | Policy |
|---|---|---|
| 2703 | PEAT (INCLUDING PEAT LITTER), WHETHER OR NOT AGGLOMERATED | |
| 270300 | Peat (including peat litter), whether or not agglomerated | |
| 27030010 | Peat whether or not compressed into bales, but not agglomerated | Free |
Harmonised System of Nomenclature (HSN Codes) 27030010 are used for the Peat whether or not compressed into bales, but not agglomerated 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 27030010
First two digits (27) represent the chapter number which is Chapter 27 - Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes.
Next two digits (03) represent the heading number which is PEAT (INCLUDING PEAT LITTER), WHETHER OR NOT AGGLOMERATED
Next two digits (00) represent the product code which is Peat (including peat litter), whether or not agglomerated
Last two digits (10) are for final or deeper classification which is Peat whether or not compressed into bales, but not agglomerated
All 8 digits of HSN code is mandatory for export & imports for tax invoice of GST.
FAQs on HSN Code 27030010
What is HSN Code 27030010 used for?
HSN Code 27030010 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 27030010 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 27030010?
The GST rate for HSN Code 27030010 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 27030010?
As per current trade policy, HSN Code 27030010 falls under "Free" 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.