What products are classified under HSN 1508
It includes Ground-nut oil & fractions
HSN Sub Chapter 1508 represents Ground-nut oil & fractions under GST classification. This code helps businesses identify Ground-nut oil & fractions correctly for billing, taxation, and trade. With HSN Sub Chapter 1508, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Ground-nut oil & fractions.
GST Rate for Ground-nut oil & fractions under HSN Code 1508. 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 | 1508 | Soya-bean oil and its fractions, whether or not refined, but not chemically modified | 5% | 5% |
Chapter: 15
Description: Soya-bean oil and its fractions, whether or not refined, but not chemically modified
Following Tariff HSN code falls under Ground-nut oil & fractions:
| Tariff HSN | Description |
|---|---|
| Crude oil | |
| Other : Deodorized (Salad Oil) | |
| Other : Other : Edible grade | |
| Other : Other : Other |
Crude oil
Other : Deodorized (Salad Oil)
Other : Other : Edible grade
Other : Other : Other
It includes Ground-nut 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.
Prefer separate lines per item with its HSN so each component follows its own tax treatment. If it is a naturally bundled supply, identify the principal supply and tax the whole bundle accordingly.
If your outward supply of Ground-nut oil & fractions is taxable, ITC is generally available (Sections 16–17) except blocked credits (e.g., personal use, motor vehicles in most cases). For exempt supplies, proportionate reversal is required under Rule 42/43.
If replacement is without consideration under a pre‑agreed warranty, issue a delivery challan and reference the original invoice/contract. If consideration is charged, raise a tax invoice. Keep serial/lot details for traceability.
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.
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.