Plywood HSN Code

Learn how businesses can find and apply the HSN code accurately.
Business Loan
Apply Now
3 min
18 July 2024

HSN codes, or Harmonized System of Nomenclature codes, are an internationally recognised system used to classify goods in global trade. Developed by the World Customs Organization (WCO), HSN codes ensure uniformity in product classification across countries, facilitating smoother customs procedures and accurate tax collection. Each HSN code consists of six digits, with additional digits added by countries for further specification. This standardised system aids in efficient international trade, reduces disputes, and simplifies the process of identifying products for import and export. HSN codes also play a crucial role in data analysis and monitoring trade statistics globally.

HSN Code for plywood

HSN Code Description GST Rate
4412 Plywood, veneered panels 18%
4412 10 Of bamboo 18%
4412 31 With at least one outer ply of tropical wood 18%
4412 32 With at least one outer ply of non-coniferous wood 18%
4412 39 Other, with at least one outer ply of coniferous wood 18%
4412 94 Blockboard, laminboard 18%
4412 99 Other 18%

 

Plywood HSN Code: Classification and digits explained

  • HSN Code: Harmonized System of Nomenclature code for goods classification.
  • Plywood HSN Code: 4412.
  • Digits: First two digits represent the chapter (44), next two the heading (12).
  • Detailed Classification: Codes like 4412 10, 4412 31, etc., indicate specific types of plywood based on material and use.

Importance of correct plywood HSN Code classification

  • Digits: HSN codes are typically 6-8 digits.
  • First two digits: Represent the chapter, indicating the category of goods.
  • Next two digits: Represent the heading, detailing the specific type of product.
  • Last two digits: Provide further classification, often specifying the precise nature or material of the machinery.

Criteria for classifying plywood under HSN Code

  • Compliance: Ensures adherence to GST regulations.
  • Tax calculation: Accurate tax rates depend on correct HSN code usage.
  • Avoid penalties: Incorrect classification can lead to fines and legal issues.
  • Smooth trade: Facilitates smooth domestic and international trade.

How can businesses find and apply the correct HSN code for plywood?

  • Consultation: Seek advice from GST professionals or consultants.
  • Government resources: Use online tools and resources provided by the GST council.
  • Classification guides: Refer to detailed HSN code lists and guidelines.
  • Industry standards: Follow industry-specific norms and practices.

Conclusion

Understanding and correctly applying the HSN code for plywood is crucial for compliance with GST regulations in India. Businesses must ensure proper classification to avoid legal complications and ensure accurate tax calculations. Proper HSN code usage not only facilitates smooth trade but also strengthens the overall economic framework by ensuring consistent tax revenue. For Indian businesses dealing with plywood, staying informed about the HSN codes and their application is essential for operational efficiency and regulatory compliance.

Know more about Bajaj Finserv Business Loans

Here are some of the key advantages of our business loan that make it an ideal choice for your business expenses:

  • Simplified application process: Online applications streamline the process, reducing paperwork and saving time.
  • High loan amount: Businesses can borrow funds up to Rs. 80 lakh, depending on their needs and qualification.
  • Quick disbursal: Funds can be received in as little as 48 hours of approval, allowing businesses to respond promptly to opportunities and needs.
  • Competitive interest rates: The interest rates for our business loans range from 14% to 30% per annum.

Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Explore and apply for co-branded credit cards online.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-approved limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on No Cost EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

GET THE APP

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

Frequently asked questions

What is the 8-digit HSN code for plywood?

The 8-digit HSN code for plywood falls under Chapter 44, which pertains to wood and articles of wood. For plywood specifically, the code is 4412.10.00 for plywood with at least one outer ply of tropical wood. Other variations of plywood will have different last four digits, depending on specific characteristics like material type and use. It's essential for businesses to use the correct 8-digit HSN code for precise GST compliance and tax calculations.

What is the HSN code for plywood in GST?

The HSN code for plywood under the GST system in India is 4412. This code is used for classifying plywood and veneered panels. It includes various types of plywood, such as those made from bamboo (4412 10), tropical wood (4412 31), non-coniferous wood (4412 32), and coniferous wood (4412 39). The applicable GST rate for plywood under this HSN code is 18%, ensuring standardised tax treatment for all plywood products.

What is the HSN code 44129990?

The HSN code 44129990 pertains to plywood and similar laminated wood that is not specified elsewhere within the 4412 chapter. It includes other types of veneered panels and similar laminated wood products. The classification under this code ensures the correct application of GST rates and facilitates compliance with tax regulations. Proper identification and use of HSN code 44129990 are crucial for accurate tax reporting and avoiding potential legal issues for businesses dealing in plywood.

What is the HSN code 4412 for plywood?

The HSN code 4412 is designated for plywood and veneered panels. This code encompasses various types of plywood, including those made of bamboo, tropical wood, and non-coniferous wood. It also includes a blockboard and a laminboard. The HSN code helps in the classification of goods for taxation purposes, ensuring the correct application of GST rates, which is typically 18% for plywood. Proper use of this code is essential for compliance and accurate tax calculation in India.

Show More Show Less

Related videos