996523
International water transport services of goods by refrigerated vessels, tankers, bulk cargo vessels, container ships and the like
Tax Calculator for 996523
E-Way Bill Rules
For international water transport services of goods by refrigerated vessels, tankers, bulk cargo vessels, container ships and the like, the E-Way Bill threshold is ₹50,000. Since the rate is 0%, you must generate a bill if the Taxable Value exceeds ₹50,000.
Example Calculation
- Base Value: ₹50,000
- + GST (0%): ₹0
- Total Invoice: ~₹50,000
Invoice Example
Breakdown for a sample invoice value of ₹1,000:
Why is RCM Applicable?
Since this is a specific category (likely Transport or Legal), the recipient pays the tax directly.
How Reverse Charge (RCM) Works
Can I claim ITC?
Yes, if used for business. This reduces your final cash liability.
Input Tax Credit (ITC) Logic
Compliance & Validation
HSN 996523 falls under Chapter 99. 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 (9965) is sufficient for B2B invoices.
Ensure that you charge 0% CGST and 0% SGST for intra-state supplies of international water transport services of goods by refrigerated vessels, tankers, bulk cargo vessels, container ships and the like. For inter-state supplies, the full 0% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 996523?
The GST rate for HSN Code 996523 (International water transport services of goods by refrigerated vessels, tankers, bulk cargo vessels, container ships and the like) is 0%.
Q: Is HSN 996523 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 International water transport services of goods by refrigerated vessels, tankers, bulk cargo vessels, container ships and the like?
Multiply the taxable value by 0. For ₹1000 value, GST is ₹0.
Q: Does Reverse Charge (RCM) apply?
Yes, RCM typically applies if purchased from unregistered suppliers.
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