What products are classified under HSN 2703
It includes Peat products
HSN Sub Chapter 2703 represents Peat products under GST classification. This code helps businesses identify Peat products correctly for billing, taxation, and trade. With HSN Sub Chapter 2703, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Peat products.
GST Rate for Peat products under HSN Code 2703. 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 |
|---|---|---|---|---|
| 27 | 2703 | Peat (including peat litter), whether or not agglomerated | 40% | 5% |
Chapter: 27
Description: Peat (including peat litter), whether or not agglomerated
Following Tariff HSN code falls under Peat products:
| Tariff HSN | Description |
|---|---|
| Peat (including peat litter), whether or not agglomerated : Peat whether or not compressed into bales, but not agglomerated | |
| Peat (including peat litter), whether or not agglomerated : Other |
Peat (including peat litter), whether or not agglomerated : Peat whether or not compressed into bales, but not agglomerated
Peat (including peat litter), whether or not agglomerated : Other
| Order Number | Description |
|---|---|
| M/S. Novozymes South Asia Pvt. Ltd (AAR (Authority For Advance Ruling), Gujarat) |
M/S. Novozymes South Asia Pvt. Ltd (AAR (Authority For Advance Ruling), Gujarat)
It includes Peat products
Some entries use MRP/weight‑based conditions for classification. Keep pack size, retail marking and brand status on records and invoice to support the chosen HSN.
Exports are zero‑rated (with or without payment of IGST) subject to LUT/refund conditions. Imports may attract customs duties in addition to GST. Keep HSN‑wise description consistent across invoice, shipping bill and BOE.
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.
Yes. Many food/agri goods are treated differently when sold as pre‑packaged & labelled retail packs versus loose/open packs. If Peat products is sold in small pouches (e.g., 500 g) with an MRP and label, record that on the invoice. Loose bulk bags often follow a different treatment.
Use a delivery challan for sending Peat products to the job worker. Declare movement in your records and reconcile when the goods return. If the job worker raises a service invoice, classify it under SAC; your goods remain under the original HSN.
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.