37061015
CHILDREN’S FILMS CERTIFIED BY THE CENTRAL BOARD OF FILM CERTIFICATION TO BE “CHILDREN’S FILM”
Tax Calculator for 37061015
E-Way Bill Rules
For children’s films certified by the central board of film certification to be “children’s film”, 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 37061015 falls under Chapter 37. 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 (3706) is sufficient for B2B invoices.
Ensure that you charge 9% CGST and 9% SGST for intra-state supplies of children’s films certified by the central board of film certification to be “children’s film”. For inter-state supplies, the full 18% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 37061015?
The GST rate for HSN Code 37061015 (CHILDREN’S FILMS CERTIFIED BY THE CENTRAL BOARD OF FILM CERTIFICATION TO BE “CHILDREN’S FILM”) is 18%.
Q: Is HSN 37061015 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 CHILDREN’S FILMS CERTIFIED BY THE CENTRAL BOARD OF FILM CERTIFICATION TO BE “CHILDREN’S FILM”?
Multiply the taxable value by 0.18. For ₹1000 value, GST is ₹180.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.