TaxTMI 
TaxTMI 
hsn code for scrap fridge compressors
X X X X Extracts X X X X
X X X X Extracts X X X X
....sn code for scrap fridge compressors<br> Query (Issue) Started By: - faiz shaikh Dated:- 29-7-2017 Last Reply Date:- 30-7-2017 Goods and Services Tax - GST<br>Got 14 Replies<br>GST<br>Sir i deals in old and used fridge compressors. Hsn code for compressor is 8414 which comes under 28% slab. Sir i deal in scrap compressors , so in which slab it comes and what is the Hsn code for scrap compressors. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....i am very much confused . plz reply as soon as possible. Reply By MARIAPPAN GOVINDARAJAN: The Reply: In my view it is 28% as indicated by you. Reply By faiz shaikh: The Reply: sir for new compressor is 28% and for scrap compressor is also 28 % isin't it unfair. Reply By MARIAPPAN GOVINDARAJAN: The Reply: Yes. You or your association may represent to the Government in this regard. Reply ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....By KASTURI SETHI: The Reply: New compressor and scrap compressor cannot attract same rate of GST. Scrap compressor may fall under another HSN meant for scrap which attract GST @ 18% . Ferrous waste and scrap falls under HSN 7204 and attract GST @18%. Reply By faiz shaikh: The Reply: thanks for ur comments Sir, it was very helpfull Reply By KASTURI SETHI: The Reply: With reference to your mess....
X X X X Extracts X X X X
X X X X Extracts X X X X
....age, aluminium scrap (7602) and copper scrap (7404) also attract GST @18%. Sh.M.Govindarajan, Sir has given you the best option. Follow the same. You should represent to the Chairperson, GST Council and your problem will be solved. I hope. Nobody can deny that new compressor and scrap compressor cannot attract same rate of GST. Scrap is scrap and it cannot replace new one. Reply By KASTURI SETHI:....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... The Reply: You may be aware that next meeting of GST Council is to be held on 5.8.17. Email your issue. Reply By MUKUND THAKKAR: The Reply: I am agree with your view.Sh. Kasturiji.. scrap of air compressor is not cover with HSN code of new Air compressor. that means every product HSN code become Scrap code and pay the GST applicable not as scrap. Reply By Rajagopalan Ranganathan: The Reply....
X X X X Extracts X X X X
X X X X Extracts X X X X
....: Sir, In my opinion scrap of any machinery or parts thereof have to be classified as waste of the materials out of which such machinery or parts are made off. If it is made of iron and steel it will fall under heading 7204. Reply By Rajagopalan Ranganathan: The Reply: Sir, In continuation of my reply dated 29.7.2017 Ferrous waste and scrap will attract CGST @9% vide Sl. No. 199 of Schedule I....
X X X X Extracts X X X X
X X X X Extracts X X X X
....II of Notification No. 1/2017-Central Tax (Rate) dated 28.6.2017. Reply By faiz shaikh: The Reply: sir u mean hsn code 7204 for scrap compressors which is 18 % and in invoice we have to mention hsn code 7204. Reply By KASTURI SETHI: The Reply: Decide according to what part/components are dominating. GST rate of scrap is same. I think aluminium is dominating. Reply By Rajagopalan Ranganathan: ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....The Reply: Sir, According to Notification No. 12/2017-Central Tax dated 28.6.2017 if your annual turnover is up to rupees one crore and fifty lakhs you need not mention the HSN Code. If your turnover is more than one crore and fifty lakhs and up to rupees five crores you have mention 2 digit of HSN Code. If your turnover is more than five crores you have to mention four digit HSN Code. If the s....
X X X X Extracts X X X X
X X X X Extracts X X X X
....crapped compressor is made of copper it is classifiable under heading 7404 and if it is made of aluminium it is classifiable under heading 7602 all attracting CGST @9%. Reply By faiz shaikh: The Reply: sir thanks for ur comment and sir hsn code 7404 and 7602 showing 18 %<br> Discussion Forum - Knowledge Sharing ....