HSN Code 49070020: Bank Notes

HSN Code 49070020 represents Bank Notes under GST classification. This code helps businesses identify Bank Notes correctly for billing, taxation, and trade. With HSN Code 49070020, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Bank Notes.

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Chapter Number	Chapter Name	Sub Chapter Number	Sub Chapter Name	Description of Goods	CGST (%)	SGST (%)	IGST (%)	CESS (%)
49	Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans	4907	Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value; stamp-impressed paper; bank notes; cheque forms; stock, share or bond certificates and similar documents of title	Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value; stamp-impressed paper; bank notes; cheque forms; stock, share or bond certificates and similar documents of title : Bank notes	9%	9%	18%	0%

Description of goods

Chapter

49 – Printed books, newspapers, pictures and other products of the printing industry; manuscripts, typescripts and plans

Sub Chapter

4907 – Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value; stamp-impressed paper; bank notes; cheque forms; stock, share or bond certificates and similar documents of title

CGST 9%

SGST 9%

IGST 18%

CESS 0%

HSN Code	Description
49070010	Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value; stamp-impressed paper; bank notes; cheque forms; stock, share or bond certificates and similar documents of title : Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value
49070030	Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value; stamp-impressed paper; bank notes; cheque forms; stock, share or bond certificates and similar documents of title : Documents of title conveying the right to use Information Technology software
49070090	Other : Duty credit scrips
49070090	Other: Rupee notes or coins when sold to RBI or the government of India
49070090	Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value; stamp-impressed paper; bank notes; cheque forms; stock, share or bond certificates and similar documents of title : Other

HSN Code 49070010

Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value; stamp-impressed paper; bank notes; cheque forms; stock, share or bond certificates and similar documents of title : Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value

HSN Code 49070030

Unused postage, revenue or similar stamps of current or new issue in the country in which they have, or will have, a recognized face value; stamp-impressed paper; bank notes; cheque forms; stock, share or bond certificates and similar documents of title : Documents of title conveying the right to use Information Technology software

HSN Code 49070090

Other : Duty credit scrips

HSN Code 49070090

Other: Rupee notes or coins when sold to RBI or the government of India

HSN Code 49070090

Wrong HSN codes causing GST errors? BUSY auto-applies the correct code & rate on desktop and mobile.

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What products are classified under HSN 49070020 ?

It includes Unused Postage Stamps

Do e‑way bill and e‑invoice apply for Bank Notes?

e‑Way bill is needed above ₹50,000 consignment value (subject to exemptions). e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies.

How should mixed supplies be billed when Bank Notes is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Bank Notes; Nil for exempt items if applicable).

Does packaging or labelling change the GST for Bank Notes?

For food/agri items, GST can be 5% when not fresh/chilled and sold as pre‑packaged & labelled; otherwise often Nil. For non‑food items, rates depend on the specific sub‑heading.

Can we claim ITC on inputs used to trade Bank Notes?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

Any common misclassification issue with Bank Notes?

Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.

Important Disclaimer

The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.

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HSN Code 49070020: Bank Notes

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Description of Goods for Bank Notes

What does HSN Code 49070020 not include?

Wrong HSN codes causing GST errors? BUSY auto-applies the correct code & rate on desktop and mobile.

FAQs for HSN Code 49070020

What products are classified under HSN 49070020 ?

Do e‑way bill and e‑invoice apply for Bank Notes?

How should mixed supplies be billed when Bank Notes is sold with other items?

Does packaging or labelling change the GST for Bank Notes?

Can we claim ITC on inputs used to trade Bank Notes?

Any common misclassification issue with Bank Notes?

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