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 or export of Bank Notes.

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Description of Goods for HSN Code 49070020

HSN Code 49070020 relates to the following description.

Description of Goods

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

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%

What does HSN Code 49070020 not include?

Bank Notes does not include products with the following descriptions.

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

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

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Frequently Asked Questions

Clear answers to common queries about HSN Code 49070020 and GST compliance.

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.