2403
OTHER MANUFACTURED TOBACCO AND MANUFACTURED TOBACCO SUBSTITUTES, “HOMOGENISED” OR “RECONSTITUTED” TOBACCO, TOBACCO EXTRACTS ANDESSENCES
Tax Calculator for 2403
E-Way Bill Rules
For other manufactured tobacco and manufactured tobacco substitutes, “homogenised” or “reconstituted” tobacco, tobacco extracts andessences, the E-Way Bill threshold is ₹50,000. Since the rate is 28%, you must generate a bill if the Taxable Value exceeds ₹39,062.
Example Calculation
- Base Value: ₹39,062
- + GST (28%): ₹10,937.36
- 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 2403 falls under Chapter 24. 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 (2403) is sufficient for B2B invoices.
Ensure that you charge 14% CGST and 14% SGST for intra-state supplies of other manufactured tobacco and manufactured tobacco substitutes, “homogenised” or “reconstituted” tobacco, tobacco extracts andessences. For inter-state supplies, the full 28% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 2403?
The GST rate for HSN Code 2403 (OTHER MANUFACTURED TOBACCO AND MANUFACTURED TOBACCO SUBSTITUTES, “HOMOGENISED” OR “RECONSTITUTED” TOBACCO, TOBACCO EXTRACTS ANDESSENCES) is 28%.
Q: Is HSN 2403 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 OTHER MANUFACTURED TOBACCO AND MANUFACTURED TOBACCO SUBSTITUTES, “HOMOGENISED” OR “RECONSTITUTED” TOBACCO, TOBACCO EXTRACTS ANDESSENCES?
Multiply the taxable value by 0.28. For ₹1000 value, GST is ₹280.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.