India is known for its textile industry, and it is one of the most significant contributors to the country's economy. The textile industry is diverse, and it ranges from the manufacturing of fabrics to the production of garments. With the advent of GST, the entire tax system has undergone a significant change, and the textile industry is no exception. In this article, we will discuss the GST rate and HSN code for articles of apparel and clothing accessories, knitted or crocheted - Chapter61 of the GST RATES HSN CODES.
GST or Goods and Services Tax is an indirect tax that has replaced several indirect taxes levied by the Indian government. GST was introduced with the aim of simplifying the tax system, and it has indeed made a considerable impact. GST is levied on the value-added to goods and services at each stage of production or distribution.
HSN Code or Harmonized System of Nomenclature is a system of classification of goods under the GST regime. HSN code is a six-digit code that is used to classify goods and services under GST.
The GST rate for Articles of apparel and clothing accessories, knitted or crocheted - Chapter61 is 5%.
The HSN code for Articles of apparel and clothing accessories, knitted or crocheted - Chapter61 is 6110, 6111, 6112, 6113, 6114, 6115, 6116, 6117, 6119.
Knowing the GST rate and HSN code is essential for businesses that deal with textiles. With the help of HSN codes, businesses can easily classify their goods and services while filing their GST returns. The textile industry is crucial to the country's economy, and it is essential to understand the tax system that governs it.
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