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HSN Code - 34049031 : Artificial waxes (including water soluble waxes) prepared waxes, not emulsified or containing solvents (POLY BROMINATED BIPHENYLS)
| HSN CODE | Description | Policy |
|---|---|---|
| 3404 | ARTIFICIAL WAXES AND PREPARED WAXES | |
| 340490 | Artificial waxes (including water soluble waxes) prepared waxes, not emulsified or containing solvents | |
| 34049031 | POLY BROMINATED BIPHENYLS | Restricted |
Harmonised System of Nomenclature (HSN Codes) 34049031 are used for the POLY BROMINATED BIPHENYLS 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 34049031
First two digits (34) represent the chapter number which is Chapter 34 - Soap, organic surface-active agents, washing preparations, lubricating preparations, artificial waxes, prepared waxes, polishing or scouring preparations, candles and similar articles, modelling pastes, “dental waxes” and dental preparations with a basis
Next two digits (04) represent the heading number which is ARTIFICIAL WAXES AND PREPARED WAXES
Next two digits (90) represent the product code which is Artificial waxes (including water soluble waxes) prepared waxes, not emulsified or containing solvents
Last two digits (31) are for final or deeper classification which is POLY BROMINATED BIPHENYLS
All 8 digits of HSN code is mandatory for export & imports for tax invoice of GST.
FAQs on HSN Code 34049031
What is HSN Code 34049031 used for?
HSN Code 34049031 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 34049031 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 34049031?
The GST rate for HSN Code 34049031 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 34049031?
As per current trade policy, HSN Code 34049031 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.