About HSN Code 98010020

HSN Code 98010020 covers Components (whether or not finished or not) or raw materials for the manufacture of aforesaid items required for the initial setting up of a unit or the substantial expansion of a unit and attracts a GST rate of 5%. For intra-state supplies, this is split as 2.5% CGST + 2.5% SGST. For inter-state supplies, 5% IGST is charged.

How to Use HSN Code 98010020 on GST Invoices

• Include the HSN code 98010020 on every GST invoice for components (whether or not finished or not) or raw materials for the manufacture of aforesaid items required for the initial setting up of a unit or the substantial expansion of a unit
• 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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