GST Rate & HSN Code 8902 – FISHING VESSELS; FACTORY SHIPS AND OTHER VESSELS FOR PROCESSING OR PRESERVING FISHERY PRODUCTS

The HSN code for FISHING VESSELS; FACTORY SHIPS AND OTHER VESSELS FOR PROCESSING OR PRESERVING FISHERY PRODUCTS is 8902. This code falls under Chapter 89 of the GST HSN classification system, which covers FISHING VESSELS; FACTORY SHIPS AND OTHER VESSELS FOR PROCESSING OR PRESERVING FISHERY PRODUCTS. It is used for accurate product classification during GST invoicing, return filing, and tax compliance.

HSN code 8902 falls under Chapter 89 of the GST HSN classification, which covers FISHING VESSELS; FACTORY SHIPS AND OTHER VESSELS FOR PROCESSING OR PRESERVING FISHERY PRODUCTS. Chapter 89 groups all related products together to standardize GST rates and simplify tax classification for businesses dealing with FISHING VESSELS; FACTORY SHIPS AND OTHER VESSELS FOR PROCESSING OR PRESERVING FISHERY PRODUCTS.

Yes, registered businesses can generally claim Input Tax Credit (ITC) on GST paid for FISHING VESSELS; FACTORY SHIPS AND OTHER VESSELS FOR PROCESSING OR PRESERVING FISHERY PRODUCTS under HSN code 8902, 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 8902 on your GST invoice for FISHING VESSELS; FACTORY SHIPS AND OTHER VESSELS FOR PROCESSING OR PRESERVING FISHERY PRODUCTS 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.