GST Rates & HSN Code for Oil Seeds and Oleaginous Fruits

The HSN code differentiates one product from another and classifies and sorts products worldwide. The HSN code trades goods or services within and outside India. This code specifies the product for trading, and the code number extends as per the business turnover to determine that the goods comply with GST. So, in this blog, we will talk about GST rates and HSN codes for oil seeds and oleaginous fruits.

What is HSN Code 12116000?

The HSN code 12116000 is the code that is cast for oil seeds and oleaginous fruits, miscellaneous grains, seeds, and fruit; Industrial or medicinal plants; straw and fodder. Plants and parts of plants(including seeds and fruits) are of a kind used mainly in perfumery, in pharmacy, or for insecticidal and fungi purposes. This code comes under Chapter 12 of the HSN code list and is further extended into subheadings as 01, 02, 03, etc., as per the GST rates. These GST rates can be levied based on IGST on interstate trading and SGST/CGST on trading of goods within the state.

HSN Code & GST Rates for 12116000

Here's a complete list of HSN codes for 12116000, units, and GST rates, which come under Chapter 12 of oil seeds and oleaginous fruits.

HSN Code	Description	Rate (%)
1201	SOYA BEANS, WHETHER OR NOT BROKEN	5%
120100	SOYA BEANS, WHETHER OR NOT BROKEN	5%
12010010	SOYA BEANS	5%
12010090	SOYA BEANS, WHETHER OR NOT BROKEN SOYA BEANS	5%
120110	SEED	5%
12011000	SEED	5%
120190	OTHER	5%
12019000	OTHER	5%
1202	GROUND-NUTS, NOT ROASTED OR OTHERWISE COOKED	5%
120210	IN SHELL	5%
12021011	GROUND?NUTS, NOT ROASTED OR OTHERWISE COOKED	5%
12021019	GROUND NUTS, NOT ROASTED OR OTHERWISE COOKED	5%
12021091	GROUND NUTS	5%
12021099	GROUND NUTS	5%
120220	SHELLED, WHETHER OR NOT BROKEN	5%
12022010	GROUNDNUTS, NOT ROASTED OR OTHERWISE COOKED	5%
12022090	GROUNDNUTS	5%
120230	SEED	5%
12023010	H.P.S.	5%
12023090	OTHER	5%
120241	IN SHELL	5%
12024110	H.P.S.	5%
12024190	OTHER	5%
120242	SHELLED, WHETHER OR NOT BROKEN	5%

Key Features of HSN Code

Here are certain key features of the HSN code for different products:

The HSN code is a unique code selected for different goods for trading. This code consists of 6 digits, characterized by a constant number. This classifies 5000+ products so far that are accepted worldwide.
Moreover, the length of the HSN code may diverge and vary depending on several factors, such as a greater portion of products, expanded product categories, and even the business turnover.
Under the classification of the HSN module, there are nearly 21 sections, 99 chapters, 1,244 headings, and 5,244 subheadings in total to enable international trade.
The first two digits represent the chapter; the next two digits define the category. In addition, further delays in codes may specify more product specifications or nation-specific products.

Disclaimer

To the best of our knowledge, the rates listed above are on condition that they have been revised from the declaration no. 05/2020, dated October 16, 2020. We got the HSN information from the master codes provided on the NIC's GST e-invoice system. Variations may occur as a result of government upgrades. Please remember that we cannot be held accountable for any incorrect information. If you need material about the "effective date" for each GST or cess rate, please go to the CBIC website.

Who Requires HSN Code?

The HSN code in Live Horses must pay taxes on their business's revenue exceeding Rs. 1.5 crore. When the business exceeds Rs 5 crore, the HSN code has an 8-digit code that resembles the product description. At the same time, the HSN code is limited to 4 digits if the business is up to Rs. 5 crore.

Conclusion

The HSN code 12116000 in oil seeds and oleaginous fruits, Miscellaneous grains, seeds, and fruit; Industrial or medicinal plants; Straw and fodder plants and parts of plants(including seeds and fruits); Of a kind used primarily in perfumery, In pharmacy or for insecticidal, Fungi... pays the taxes on the income of their business. This code is compulsory for companies that exceed a specific business limit of Rs. 5 crore. This HSN code helps to differentiate and specify the characteristics of products used for trading. If you get the Live Horses HSN code 12116000, your business goods get comprehensive identification and gratitude from a diverse range of items trading.

Suggested Read: Soyabean HSN Code and GST Rate – 1201

FAQs

1. What are oil seeds and oleaginous fruits?

Oilseeds are seeds (sunflower, soya, rapeseed) or fruits (walnut, almond, pistachio...) rich in fatty acids and low in water. Oil can be extracted from an oleaginous seed or fruit. Edible oils are of animal or vegetable origin and are produced by the agro-food sector for human consumption.

2. What is the HSN code for seeds in GST?

HSN Code 1209 refers to "Seeds, fruits, and spores, for spreading (excluding leguminous vegetables and sweetcorn, coffee, tea, maté and spices, cereals, oil seeds besides oleaginous fruits, and seeds and fruit used mainly in perfumery, drugs or for insecticidal.

3. What is the HSN code 12119019?

Plants and portions of plants (including seeds and fruits) are used mainly in perfumery, in pharmacy or for insecticidal, fungicidal, or like purposes, fresh or dried, whether or not cut, creased or powdered other.

4. What are three examples of oil seeds?

The most commonly identified oilseeds are groundnut, soybean, palm kernel, cottonseed, olive, sunflower seed, rapeseed, sesame seed, linseed, safflower seed, etc. Tables 4.4 and 4.5 illustrate, respectively, the edible oil production in nominated areas of the world and the fatty acid profiles of the major oilseeds.

5. What is the GST HSN code?

HSN (Harmonised System of Nomenclature) codes are essential for India's Goods and Services Tax (GST). They categorize goods based on their features and facilitate uniform taxation. Empathetic HSN codes ensure accurate tax calculation and compliance with GST regulations.