Cotton yarn is a widely used product in India, and therefore, it is important to know the GST rates and HSN code for cotton yarn retail sale. In this article, we will discuss the GST rates and HSN code for cotton yarn retail sale.
Cotton yarn is a type of yarn made from cotton fibers. It is used in a wide variety of textile products, including clothing, bedding, and towels. Cotton yarn is known for its softness, durability, and absorbency.
For cotton yarn retail sales, the GST rate is 5%. This rate is applicable to all types of cotton yarn, including combed and carded cotton yarn.
The HSN code for cotton yarn retail sale is 5207. This code includes all types of cotton yarn, including combed and carded cotton yarn, as well as single and plied cotton yarn.
The GST on cotton yarn retail sales is calculated as follows:
Price of cotton yarn * 5% = GST on cotton yarn retail sales
Knowing the GST rates and HSN code for cotton yarn retail sale is important for small and medium business owners who deal with textile products. The GST rate for cotton yarn retail sale is 5%, and the HSN code for cotton yarn retail sale is 5207. By understanding these rates and codes, business owners can ensure that they are calculating their GST correctly and avoiding any penalties or fines.
Manual Applications for GST Advance Ruling and Appeals for Advance Ruling
Taxable Value in case of Inter-state Stock Transfer between Branches
Levy of GST on Non-Alcoholic Beverages
-compressed.jpg)