What products are classified under HSN 2709
It includes Crude petroleum oils
HSN Sub Chapter 2709 represents Crude petroleum oils under GST classification. This code helps businesses identify Crude petroleum oils correctly for billing, taxation, and trade. With HSN Sub Chapter 2709, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import/export of Crude petroleum oils.
GST Rate for Crude petroleum oils under HSN Code 2709. 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 | 2709 | Petroleum oils and oils obtained from bituminous minerals, crude | 5% | 5% |
Chapter: 27
Description: Petroleum oils and oils obtained from bituminous minerals, crude
Following Tariff HSN code falls under Crude petroleum oils:
| Tariff HSN | Description |
|---|---|
| Petroleum oils and oils obtained from bituminous minerals, crude | |
| Petroleum oils and oils obtained from bituminous minerals, crude: Petroleum Crude | |
| Petroleum oils and oils obtained from bituminous minerals, crude: Other | |
| Petroleum oils and oils obtained from bituminous minerals | |
| Petroleum crude |
Petroleum oils and oils obtained from bituminous minerals, crude
Petroleum oils and oils obtained from bituminous minerals, crude: Petroleum Crude
Petroleum oils and oils obtained from bituminous minerals, crude: Other
Petroleum oils and oils obtained from bituminous minerals
Petroleum crude
It includes Crude petroleum oils
Using a broad or incorrect HSN, ignoring material/form (e.g., raw vs processed), or mixing goods and services on one line. Always match wording to the HSN Notes and keep a classification working paper.
Use a delivery challan for sending Crude petroleum oils 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.
Generate an e‑way bill when the consignment value exceeds ₹50,000, unless exempted for the transaction. E‑invoicing depends on turnover (AATO threshold as notified) for B2B supplies, not on the item itself.
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.
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.
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.