Official Classification

Under the Harmonized System of Nomenclature (HSN), the code 8903 specifically identifies yachts and other vessels for pleasure or sports for the purpose of taxation and trade in Bharat. This ensures uniform classification across all Indian states and Union Territories.

Intra-State Split

CGST 20% + SGST 20%

Inter-State Split

IGST 40%

Compliance Check-list

✓Mention HSN 8903 on all Tax Invoices for yachts and other vessels for pleasure or sports
✓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 8903

"Classifying yachts and other vessels for pleasure or sports correctly is critical to avoid litigation. While the base rate is 40%, always check for anti-dumping duties if importing, especially under the Ships category. AasanKhata automatically monitors these shifts for you."