The Harmonised System of Nomenclature (HSN) code is essential for businesses involved in the import and export of goods, including aluminium products. This 8-digit code facilitates international trade by standardising product descriptions and classifications. Understanding the HSN code for products like aluminium is crucial for businesses to ensure accurate tax application and compliance with regulations under GST. This article will explain the significance of HSN codes, their application in GST for aluminium, and provide an overview for businesses looking to navigate the details of aluminium trade.
What is the HSN code for aluminium?
The HSN code is a unique classification system used globally to standardise the identification of products. Specifically, for aluminium, the HSN code is a part of Chapter 76 in the HSN classification. Aluminium, being a widely used metal in various industries, has multiple sub-codes to cover different forms and products such as sheets, bars, rods, and products used in manufacturing.
For a business, knowing the correct HSN code is vital for accurate GST computation, proper filing, and smooth customs clearance. The HSN Code for aluminium ensures that any trade transaction, whether it involves raw aluminium or its manufactured products, is categorised correctly. This code impacts GST application, helping businesses determine the tax rates applicable to their goods.
