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HSN Code - 85112010 : Ignition magnetos; Magnetos-dynamos; Magnetic flywheels (ELECTRONIC MAGNETO SYSTEMS)
Harmonised System of Nomenclature (HSN Codes) 85112010 are used for the ELECTRONIC MAGNETO SYSTEMS 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 85112010
First two digits (85) represent the chapter number which is Chapter 85 - Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles.
Next two digits (11) represent the heading number which is ELECTRICAL IGNITION OR STARTING EQUIPMENT OF A KIND USED FOR SPARK-IGNITION OR COMPRESSION-IGNITION INTERNAL COMBUSTION ENGINES (FOR EXAMPLE, IGNITION MAGNETOS, MAGNETO-DYNAMOS, IGNITION COILS, SPARKING PLUGS AND GLOW PLUGS, STARTER MOTORS); GENERATORS (FOR EXAMPLE, DYNAMOS, ALTERNATORS) AND CUT-OUTS OF A KIND USED IN CONJUNCTION WITH SUCH ENGINES
Next two digits (20) represent the product code which is Ignition magnetos; Magnetos-dynamos; Magnetic flywheels
Last two digits (10) are for final or deeper classification which is ELECTRONIC MAGNETO SYSTEMS
All 8 digits of HSN code is mandatory for export & imports for tax invoice of GST.
FAQs on HSN Code 85112010
What is HSN Code 85112010 used for?
HSN Code 85112010 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 85112010 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 85112010?
The GST rate for HSN Code 85112010 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 85112010?
As per current trade policy, HSN Code 85112010 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.