HSN Codes chevron_right Section 03 chevron_right Chapter 15 chevron_right Sub Chapter 1507

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1507 HSN Code: Soybean oil & fractions

HSN Sub Chapter 1507 represents Soybean oil & fractions under GST classification. This code helps businesses identify Soybean oil & fractions correctly for billing, taxation, and trade. With HSN Sub Chapter 1507, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Soybean oil & fractions.

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New GST Rate for HSN Code 1507

GST Rate for Soybean oil & fractions under HSN Code 1507. Understand Current Tax Rates, Exemptions, and Legal Classifications to Ensure Accurate Billing and GST Filing.

Chapter No HSN Code HSN Description New GST Rate Old GST Rate
15 1507 therefrom (including lanolin) 5% 5%

Chapter: 15

Description: therefrom (including lanolin)

New GST Rate: 5% Old GST Rate: 5%

Tariff HSN Codes under HSN Sub Chapter 1507

Following Tariff HSN code falls under Soybean oil & fractions:

Tariff HSN Description
Crude oil, whether or not degummed
Other : Edible grade
Other : Other

Crude oil, whether or not degummed

Other : Edible grade

Other : Other

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Case Laws Related to Sub Chapter 1507

Order Number Description
M/S. S.K. Aagrotechh (AAAR (Appellate Authority For Advance Ruling), Karnataka)

M/S. S.K. Aagrotechh (AAAR (Appellate Authority For Advance Ruling), Karnataka)

FAQs for Sub Chapter 1507

What products are classified under HSN 1507

It includes Soybean oil & fractions

Is the composition scheme suitable if I mainly trade Soybean oil & fractions?

The composition scheme is optional for eligible small suppliers of goods. You cannot issue tax invoices or collect tax under composition. Check turnover limits and exclusions; evaluate margins and ITC loss before opting in.

What should my invoice and records include for Soybean oil & fractions?

Include HSN, exact description, pack size/grade, quantity, and if pre‑packaged & labelled. Maintain purchase specs, test reports (where relevant), and job‑work challans for audit trail.

Can reverse charge ever apply to transactions involving Soybean oil & fractions?

Reverse charge in goods is notified only for specific categories. Most regular B2B sales of Soybean oil & fractions are forward charge. Check the current notifications for any special cases before deciding.

If I repair and return Soybean oil & fractions, how should I charge GST?

Repair/service is a service supply (SAC). Parts and materials used are goods and may be billed separately with HSN. Mention both lines clearly to avoid mixing service and goods values.

Any special steps when selling Soybean oil & fractions through an e‑commerce platform?

Ensure registration requirements are met and reconcile the operator’s TCS statements with your GSTR‑2B/3B. Map SKU descriptions to HSN to reduce mismatches and returns.

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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