HSN Code HSN Code

HSN Code and GST Rate for Ships, Boats and Floating Structures

Determine the accurate HSN code and GST rate for ships, boats, and floating structures to ensure tax compliance. Stay updated with the latest tax regulations for this category.

Introduction to HSN Code

The Harmonized System Code (HSN) is an international standardized system of nomenclature for the classification of traded products. It was developed by the World Customs Organization (WCO) and is used by over 200 countries and territories. The HSN code is a six-digit number that is assigned to each product. The first two digits identify the chapter, the next two digits identify the heading, and the last two digits identify the subheading.

The HSN code is used for a variety of purposes, including:

  • Identifying products for customs purposes
  • Determining the applicable import duty or tax rate
  • Tracking trade statistics

HSN code description

The HSN code for ships, boats, and floating structures is Chapter 89. This chapter includes a variety of vessels, such as cruise ships, cargo ships, fishing vessels, and pleasure boats. The chapter also includes floating docks, lifeboats, and other floating equipment.

GST Rate

The Goods and Services Tax (GST) is a multi-stage, comprehensive tax levied on the supply of goods and services in India. The GST rate for ships, boats, and floating structures is 5%.

Here is a table of the HSN codes and GST rates for ships, boats, and floating structures:

HSN Code

Description

GST Rate

8901 Cruise ships, excursion boats, ferry-boats, cargo ships, barges, and similar vessels for the transport of persons or goods 5%
8902 Inflatable boats and other inflatable articles 18%
8903 Yachts and other vessels for pleasure or sport 28%
8904 Floating docks 18%
8905 Lifeboats and other rescue appliances and lifesaving equipment 12%
8906 Ships’ or boats’ propellers and impellers 12%
8907 Ships’ or boats’ rudders and steering gear 12%
8908 Ships’ and boats’ winches and capstans 12%
8909 Tugs and pusher craft 12%
8910 Light vessels, fire floats, dredgers, floating cranes, and other floating workboats 12%

Please note that the GST rate is subject to change. It is always best to consult with our tax advisor to ensure that you are paying the correct GST rate. Get in touch with our expert today! Click here to get registered: New GST registration

About the Author

Nithya Ramani Iyer, a Business Finance & Compliance Consultant at Vakilsearch, holds a Bachelor’s degree in Commerce (B.Com) with a specialization in Finance and Taxation, along with a Master’s degree in Business Administration (MBA) in Financial Management. With over 10 years of experience, she specialises in business finance, legal compliance, and risk management, helping businesses secure funding and meet regulatory requirements.

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