The HSN (Harmonized System of Nomenclature) code for scrap machines, which generally fall under the category of "Waste and scrap of machinery," depends on the material of the scrap. Here is the relevant code:
HSN Code for Scrap Machines:
- HSN Code 7204: This code is applicable for ferrous waste and scrap; remelting scrap ingots of iron or steel, which often includes metal scrap from old machines.
If the scrap machine consists of non-ferrous metals, the HSN codes will vary depending on the specific metal:
- 7404: Copper waste and scrap
- 7503: Nickel waste and scrap
- 7602: Aluminum waste and scrap
- 7902: Zinc waste and scrap
GST Rate for Scrap Machines:
The GST rate for goods classified under these HSN codes, including scrap machines, is generally 18%. However, the rate can vary based on specific types of metal scrap.
Key Points:
- HSN Code:
- 7204: Ferrous waste and scrap (including iron and steel)
- 7404: Copper waste and scrap
- 7503: Nickel waste and scrap
- 7602: Aluminum waste and scrap
- 7902: Zinc waste and scrap
- GST Rate: 18% (general rate, but always verify for specific metals)
