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HSN Code - 45031000 : CORKS AND STOPPERS (CORKS AND STOPPERS)

Policy: Free
HSN CODE Description Policy
4503ARTICLES OF NATURAL CORK
450310
45031000CORKS AND STOPPERSFree

Harmonised System of Nomenclature (HSN Codes) 45031000 are used for the CORKS AND STOPPERS 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 45031000

First two digits (45) represent the chapter number which is Chapter 45 - Cork and articles of cork

Next two digits (03) represent the heading number which is ARTICLES OF NATURAL CORK

Next two digits (10) represent the product code which is

Last two digits (00) are for final or deeper classification which is CORKS AND STOPPERS

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

FAQs on HSN Code 45031000

What is HSN Code 45031000 used for?

HSN Code 45031000 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 45031000 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 45031000?

The GST rate for HSN Code 45031000 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 45031000?

As per current trade policy, HSN Code 45031000 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.