1511
PALM OIL AND ITS FRACTIONS, WHETHER OR NOT REFINED, BUT NOT CHEMICALLY MODIFIED
Tax Calculator for 1511
E-Way Bill Rules
For palm oil and its fractions, whether or not refined, but not chemically modified, the E-Way Bill threshold is ₹50,000. Since the rate is 5%, you must generate a bill if the Taxable Value exceeds ₹47,619.
Example Calculation
- Base Value: ₹47,619
- + GST (5%): ₹2,380.95
- Total Invoice: ~₹50,000
Invoice Example
Breakdown for a sample invoice value of ₹1,000:
Can I claim ITC?
Yes, if used for business. This reduces your final cash liability.
Input Tax Credit (ITC) Logic
Compliance & Validation
HSN 1511 falls under Chapter 15. It is mandatory to mention this code on invoices if your annual turnover exceeds ₹5 Crore. For turnover below ₹5 Crore, mentioning the 4-digit code (1511) is sufficient for B2B invoices.
Ensure that you charge 2.5% CGST and 2.5% SGST for intra-state supplies of palm oil and its fractions, whether or not refined, but not chemically modified. For inter-state supplies, the full 5% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 1511?
The GST rate for HSN Code 1511 (PALM OIL AND ITS FRACTIONS, WHETHER OR NOT REFINED, BUT NOT CHEMICALLY MODIFIED) is 5%.
Q: Is HSN 1511 eligible for Input Tax Credit (ITC)?
ITC availability is classified as 'eligible'. Generally, businesses can claim ITC unless used for personal consumption or blocked under Section 17(5).
Q: How to calculate GST amount for PALM OIL AND ITS FRACTIONS, WHETHER OR NOT REFINED, BUT NOT CHEMICALLY MODIFIED?
Multiply the taxable value by 0.05. For ₹1000 value, GST is ₹50.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.