About HSN Code 74040023
HSN Code 74040023 covers Nickel Silver Scrap Namely the Following:mixed New Nickel Silver Clippings Covered by Isri Code Word 'maize', New Nickel Silver Clippings Covered by Isri Code Word 'major', New Segregated Nickel Silver Clippings Covered by Isri Code Word 'malar', Old Nickel Silver Clippings Covered by Isri Code Word 'malic', Nickel Silver Castings Covered by Isri Code Word 'naggy', Nickel Silver Turnings Covered by Isri Code Word 'niece' and attracts a GST rate of 18%. For intra-state supplies, this is split as 9% CGST + 9% SGST. For inter-state supplies, 18% IGST is charged.
How to Use HSN Code 74040023 on GST Invoices
- Include the HSN code 74040023 on every GST invoice for nickel silver scrap namely the following:mixed new nickel silver clippings covered by isri code word 'maize', new nickel silver clippings covered by isri code word 'major', new segregated nickel silver clippings covered by isri code word 'malar', old nickel silver clippings covered by isri code word 'malic', nickel silver castings covered by isri code word 'naggy', nickel silver turnings covered by isri code word 'niece'
- Businesses with turnover above ₹5 crore must use 6-digit HSN codes
- Turnover between ₹1.5–5 crore: 4-digit codes are sufficient
- The HSN code must match the product/service description on your invoice
- Incorrect HSN codes can lead to GST notices and ITC mismatches
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