Official Classification

Under the Harmonized System of Nomenclature (HSN), the code 1503 specifically identifies lard stearin, lard oil, oleo stearin, oleo-oil and tallow oil, not emulsified or mixed or otherwise prepared for the purpose of taxation and trade in Bharat. This ensures uniform classification across all Indian states and Union Territories.

Intra-State Split

CGST 2.5% + SGST 2.5%

Inter-State Split

IGST 5%

Compliance Check-list

✓Mention HSN 1503 on all Tax Invoices for lard stearin, lard oil, oleo stearin, oleo-oil and tallow oil, not emulsified or mixed or otherwise prepared
✓Include in HSN-wise summary of GSTR-1 filings
✓Mandatory for E-way bill generation for goods above threshold
✓Ensure Input Tax Credit (ITC) matches this classification

✨ AI Compliance Insight

Expert Advice for 1503

"Classifying lard stearin, lard oil, oleo stearin, oleo-oil and tallow oil, not emulsified or mixed or otherwise prepared correctly is critical to avoid litigation. While the base rate is 5%, always check for anti-dumping duties if importing, especially under the Fats & Oils category. AasanKhata automatically monitors these shifts for you."