1521
VEGETABLE WAXES (OTHER THAN TRIGLYCERIDES), BEESWAX, OTHER INSECT WAXES AND SPERMACETI, WHETHER OR NOT REFINED OR COLOURED
Tax Calculator for 1521
E-Way Bill Rules
For vegetable waxes (other than triglycerides), beeswax, other insect waxes and spermaceti, whether or not refined or coloured, the E-Way Bill threshold is ₹50,000. Since the rate is 18%, you must generate a bill if the Taxable Value exceeds ₹42,372.
Example Calculation
- Base Value: ₹42,372
- + GST (18%): ₹7,626.96
- 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 1521 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 (1521) is sufficient for B2B invoices.
Ensure that you charge 9% CGST and 9% SGST for intra-state supplies of vegetable waxes (other than triglycerides), beeswax, other insect waxes and spermaceti, whether or not refined or coloured. For inter-state supplies, the full 18% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 1521?
The GST rate for HSN Code 1521 (VEGETABLE WAXES (OTHER THAN TRIGLYCERIDES), BEESWAX, OTHER INSECT WAXES AND SPERMACETI, WHETHER OR NOT REFINED OR COLOURED) is 18%.
Q: Is HSN 1521 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 VEGETABLE WAXES (OTHER THAN TRIGLYCERIDES), BEESWAX, OTHER INSECT WAXES AND SPERMACETI, WHETHER OR NOT REFINED OR COLOURED?
Multiply the taxable value by 0.18. For ₹1000 value, GST is ₹180.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.