GST Rate & HSN Code 1503 – LARD STEARIN

The HSN code for LARD STEARIN, LARD OIL, OLEOSTEARIN, OLEO-OIL AND TALLOW OIL, NOT EMULSIFIED OR MIXED OR OTHERWISE PREPARED is 1503. This code falls under Chapter 15 of the GST HSN classification system, which covers LARD STEARIN, LARD OIL, OLEOSTEARIN, OLEO-OIL AND TALLOW OIL, NOT EMULSIFIED OR MIXED OR OTHERWISE PREPARED. It is used for accurate product classification during GST invoicing, return filing, and tax compliance.

HSN code 1503 falls under Chapter 15 of the GST HSN classification, which covers LARD STEARIN, LARD OIL, OLEOSTEARIN, OLEO-OIL AND TALLOW OIL, NOT EMULSIFIED OR MIXED OR OTHERWISE PREPARED. Chapter 15 groups all related products together to standardize GST rates and simplify tax classification for businesses dealing with LARD STEARIN, LARD OIL, OLEOSTEARIN, OLEO-OIL AND TALLOW OIL, NOT EMULSIFIED OR MIXED OR OTHERWISE PREPARED.

Yes, registered businesses can generally claim Input Tax Credit (ITC) on GST paid for LARD STEARIN, LARD OIL, OLEOSTEARIN, OLEO-OIL AND TALLOW OIL, NOT EMULSIFIED OR MIXED OR OTHERWISE PREPARED under HSN code 1503, provided it is used for business purposes, and all ITC conditions under the GST Act are met. Consult a RegisterKaro expert for clarification.

Yes, mentioning HSN code 1503 on your GST invoice for LARD STEARIN, LARD OIL, OLEOSTEARIN, OLEO-OIL AND TALLOW OIL, NOT EMULSIFIED OR MIXED OR OTHERWISE PREPARED is mandatory. The number of digits required (4, 6, or 8) depends on your annual turnover as per CBIC rules. Correct HSN mention ensures accurate tax calculation and smooth return filing.