74040025
COPPER NICKEL SCRAP, INCLUDING THE FOLLOWING: NEW CUPRO NICKEL CLIPS AND SOLIDS COVERED BY ISRI CODE WORD ‘DANDY’, CUPRO NICKEL SOLIDS COVERED BY ISRI CODE WORD ‘DAUNT’, SOLDERED CUPRO-NICKEL SOLIDS COVERED BY ISRI CODE WORD ‘DELTA’, CUPRO NICKEL SPINNINGS, TURNINGS, BORINGS COVERED BY ISRI CODE WORD ‘DECOY’,
Tax Calculator for 74040025
E-Way Bill Rules
For copper nickel scrap, including the following: new cupro nickel clips and solids covered by isri code word ‘dandy’, cupro nickel solids covered by isri code word ‘daunt’, soldered cupro-nickel solids covered by isri code word ‘delta’, cupro nickel spinnings, turnings, borings covered by isri code word ‘decoy’,, 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 74040025 falls under Chapter 74. 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 (7404) is sufficient for B2B invoices.
Ensure that you charge 9% CGST and 9% SGST for intra-state supplies of copper nickel scrap, including the following: new cupro nickel clips and solids covered by isri code word ‘dandy’, cupro nickel solids covered by isri code word ‘daunt’, soldered cupro-nickel solids covered by isri code word ‘delta’, cupro nickel spinnings, turnings, borings covered by isri code word ‘decoy’,. For inter-state supplies, the full 18% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 74040025?
The GST rate for HSN Code 74040025 (COPPER NICKEL SCRAP, INCLUDING THE FOLLOWING: NEW CUPRO NICKEL CLIPS AND SOLIDS COVERED BY ISRI CODE WORD ‘DANDY’, CUPRO NICKEL SOLIDS COVERED BY ISRI CODE WORD ‘DAUNT’, SOLDERED CUPRO-NICKEL SOLIDS COVERED BY ISRI CODE WORD ‘DELTA’, CUPRO NICKEL SPINNINGS, TURNINGS, BORINGS COVERED BY ISRI CODE WORD ‘DECOY’,) is 18%.
Q: Is HSN 74040025 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 COPPER NICKEL SCRAP, INCLUDING THE FOLLOWING: NEW CUPRO NICKEL CLIPS AND SOLIDS COVERED BY ISRI CODE WORD ‘DANDY’, CUPRO NICKEL SOLIDS COVERED BY ISRI CODE WORD ‘DAUNT’, SOLDERED CUPRO-NICKEL SOLIDS COVERED BY ISRI CODE WORD ‘DELTA’, CUPRO NICKEL SPINNINGS, TURNINGS, BORINGS COVERED BY ISRI CODE WORD ‘DECOY’,?
Multiply the taxable value by 0.18. For ₹1000 value, GST is ₹180.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.