40040000
WASTE, PARINGS AND SCRAP OF RUBBER (OTHER THAN HARD RUBBER) AND POWDERS AND GRANULES OBTAINED THEREFROM
Tax Calculator for 40040000
E-Way Bill Rules
For waste, parings and scrap of rubber (other than hard rubber) and powders and granules obtained therefrom, 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 40040000 falls under Chapter 40. 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 (4004) is sufficient for B2B invoices.
Ensure that you charge 2.5% CGST and 2.5% SGST for intra-state supplies of waste, parings and scrap of rubber (other than hard rubber) and powders and granules obtained therefrom. For inter-state supplies, the full 5% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 40040000?
The GST rate for HSN Code 40040000 (WASTE, PARINGS AND SCRAP OF RUBBER (OTHER THAN HARD RUBBER) AND POWDERS AND GRANULES OBTAINED THEREFROM) is 5%.
Q: Is HSN 40040000 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 WASTE, PARINGS AND SCRAP OF RUBBER (OTHER THAN HARD RUBBER) AND POWDERS AND GRANULES OBTAINED THEREFROM?
Multiply the taxable value by 0.05. For ₹1000 value, GST is ₹50.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.