Articles of Yarn, Strip are products that are made from yarn and strips of textile material. These products are used in various industries, including the textile industry, the fashion industry, and the home decor industry. These products are also subject to GST in India.
The GST rates and HSN code for Articles of Yarn, Strip are as follows:
The GST rates for Articles of Yarn, Strip are as follows:
1. 5% GST rate for Articles of Yarn, Strip with a maximum retail price (MRP) of up to INR 1,000 per piece
2. 12% GST rate for Articles of Yarn, Strip with an MRP of more than INR 1,000 per piece
The HSN code for Articles of Yarn, Strip is 5609. This code is used to classify Articles of Yarn, Strip for GST purposes. The HSN code for Articles of Yarn, Strip includes:
1. Fabric strips and yarns, braids and other cords
2. Knitted or crocheted fabrics
3. Woven fabrics
The implementation of GST has had a significant impact on the Articles of Yarn, Strip industry. The new GST rates and HSN code have made it easier for businesses to understand and comply with GST regulations. However, some small businesses may find it challenging to adapt to the new GST rates and HSN code.
In conclusion, Articles of Yarn, Strip are subject to GST in India. The GST rates for Articles of Yarn, Strip are 5% for products with an MRP of up to INR 1,000 per piece and 12% for products with an MRP of more than INR 1,000 per piece. The HSN code for Articles of Yarn, Strip is 5609, and it includes fabric strips and yarns, braids and other cords, knitted or crocheted fabrics, and woven fabrics. The implementation of GST has had a significant impact on the Articles of Yarn, Strip industry, and businesses must comply with the new GST rates and HSN code.
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