HSN Code for Eels (Anguilla Spp.) 03032600

Overview

For the classification and sorting of products across the world, HSN code is used to differentiate one product from other products. The HSN code is used for trading goods or services within and outside India. This code specifies the product for trading and the code number extends as per the business turnover to specify that the goods comply with GST.

The HSN code & GST rate for Eels (Anguilla Spp.) is given as 03032600 under the chapter 3 of Fish And Crustaceans, Mollusc. Read this blog to get more insights on HSN code for Eels (Anguilla Spp.), key features, and important requirements of HSN code for the business of Eels (Anguilla Spp.).

What is HSN Code 03032600?

The HSN code 03032600 is the code that is used for Eels (Anguilla Spp.). This code comes under Chapter 3 of the HSN code list and are further extended into subheadings as 01, 02, 03, etc. as per the GST rates. These GST rates can be levied on the basis of IGST on interstate trading and SGST/CGST on trading of goods within the state.

HSN Code & GST Rates for 03032600

Here’s a complete list of HSN codes for 03032600 along with units, GST rates which comes under under the chapter 3 of Fish And Crustaceans, Mollusc. To find more, click on our HSN code finder.

Key Features of HSN code

Here are certain key features of the HSN code for different products:

• The HSN code is a unique code that is allotted to different goods for trading. This code consists of 6 digits, characterized with the uniform number. This classifies 5000+ products so far that are accepted worldwide.
• Moreover, the length of the HSN code may vary and is varied as per several factors, such as greater subdivision of products, expanded product categories and even covering the business turnover
• Under the classification of the HSN module, there are about 21 sections, 99 chapters, 1,244 headings and 5,244 subheadings in total to facilitate international trade.
• The first two digits represent the chapter; the next two digits define the category and further extensions of codes specify more product specifications or country specific products.

HSN Code in GST

The HSN code refers to the specification of the product along with the characteristic. HSN Code in GST is important to differentiate the products from one another. Getting the GST for HSN helps to get the idea whether the product is different and unique in character to other products. Under this code, HSN code removes the need for the detailed description of products. If a dealer or service provider's turnover falls above the slabs or limit of Rs. 5 crore, he or she must include an HSN/SAC-specific sales summary in his GSTR-1.

HSN Code in Export

When the exporting under Certificate of Origin (COO), APEDA Certificate, SAFTA Certificate, and AD Code Registration takes place, there is a negative list for some HSN code on which the exemptions or the benefit can’t be provided. The HSN code for exporting code falls under the subheading of negative list, which exempts certain goods that fall under negative list.

Disclaimer

To the best of our knowledge, the rates listed above, which are provided, have been revised from the announcement no. 05/2020, dated October 16, 2020. We obtained the HSN code information from the master codes provided on the NIC's GST e-Invoice system. Variations may occur as a result of government upgrades. Please keep in mind that we cannot be held accountable for any incorrect information. If you need information about the "effective date" for each GST or cess rate, please go to the CBIC website.

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Who Requires HSN Code?

The requirement of HSN code in Live Horses is required who pays the taxes on the turnover of their business, which exceeds Rs. 1.5 crore. When the business turnover exceeds Rs 5 crore, then the HSN code has an 8-digit code and corresponds to the product description. While the HSN code is limited to 4 digits if the turnover is up to Rs. 5 crore.

Conclusion

The HSN code 03032600 in Eels (Anguilla Spp.) pays the taxes on the turnover of their business. This code is mandatory for businesses that exceed the turnover of a certain limit of the business of Rs. 5 crore. This HSN code helps to differentiate and specify the characteristics of products that are used for trading. If you get the Live Horses HSN code 03032600, your business goods get complete identification and recognition from a diverse range of items trading.

Frequently Asked Questions