81042010
MAGNESIUM SCRAP, NAMELY THE FOLLOWING : MAGNESIUM CLIPS COVERED BY ISRI CODE WORD ‘WAFER’, MAGNESIUM SCRAP COVERED BY ISRI CODE WORD ‘WALNUT’, MAGNESIUM ENGRAVER PLATES COVERED BY ISRI CODE WORD ‘WINE’, MAGNESIUM DOCK BOARDS COVERED BY ISRI CODE WORD ‘WOOD’, MAGNESIUM TURNINGS COVERED BY ISRI CODE WORD ‘WORLD’
Tax Calculator for 81042010
E-Way Bill Rules
For magnesium scrap, namely the following : magnesium clips covered by isri code word ‘wafer’, magnesium scrap covered by isri code word ‘walnut’, magnesium engraver plates covered by isri code word ‘wine’, magnesium dock boards covered by isri code word ‘wood’, magnesium turnings covered by isri code word ‘world’, 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 81042010 falls under Chapter 81. 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 (8104) is sufficient for B2B invoices.
Ensure that you charge 9% CGST and 9% SGST for intra-state supplies of magnesium scrap, namely the following : magnesium clips covered by isri code word ‘wafer’, magnesium scrap covered by isri code word ‘walnut’, magnesium engraver plates covered by isri code word ‘wine’, magnesium dock boards covered by isri code word ‘wood’, magnesium turnings covered by isri code word ‘world’. For inter-state supplies, the full 18% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 81042010?
The GST rate for HSN Code 81042010 (MAGNESIUM SCRAP, NAMELY THE FOLLOWING : MAGNESIUM CLIPS COVERED BY ISRI CODE WORD ‘WAFER’, MAGNESIUM SCRAP COVERED BY ISRI CODE WORD ‘WALNUT’, MAGNESIUM ENGRAVER PLATES COVERED BY ISRI CODE WORD ‘WINE’, MAGNESIUM DOCK BOARDS COVERED BY ISRI CODE WORD ‘WOOD’, MAGNESIUM TURNINGS COVERED BY ISRI CODE WORD ‘WORLD’) is 18%.
Q: Is HSN 81042010 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 MAGNESIUM SCRAP, NAMELY THE FOLLOWING : MAGNESIUM CLIPS COVERED BY ISRI CODE WORD ‘WAFER’, MAGNESIUM SCRAP COVERED BY ISRI CODE WORD ‘WALNUT’, MAGNESIUM ENGRAVER PLATES COVERED BY ISRI CODE WORD ‘WINE’, MAGNESIUM DOCK BOARDS COVERED BY ISRI CODE WORD ‘WOOD’, MAGNESIUM TURNINGS COVERED BY ISRI CODE WORD ‘WORLD’?
Multiply the taxable value by 0.18. For ₹1000 value, GST is ₹180.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.