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Hsn for petrolium

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R.vadivel

Accountant

143 Points Posted on 17 July 2021

sir
is mandatory Hsn for petrol and diesel

Replies (4)

Quick Summary

Petrol and diesel are currently exempt from GST, meaning HSN codes are not mandatory for these products. While HSN codes streamline GST processes, their absence for petrol and diesel aligns with their exclusion from GST and their coverage under VAT law. However, exporters must note that an 8-digit HSN code is required for export invoices under customs law.

Rama chary Rachakonda

Master in Accounts & high court Advocate

9620 Points Posted on 17 July 2021

Petrol & diesel not covered under GST. so HSN is not required.The purpose of HSN codes is to make GST systematic and globally accepted. HSN codes will remove the need to upload the detailed descripttion of the goods. This will save time and make filing easier since GST returns are automated.

R.vadivel

Accountant

143 Points Posted on 17 July 2021

Thank you sir

Pankaj Rawat

GST Practitioner

55067 Points Posted on 18 July 2021

No...since petrol & diesel are out of the purview of GST . It is cover under VAT law & under vat law the HSN is not mandatory .
So not required to mention HSN .

Note : In case of export , the custom law mandates 8 digit HSN code to be mentioned in export invoice.