GST Rate HSN Code for Carpets and other textile floor coverings - Chapter 57

Goods and Services Tax (GST) is an indirect tax that is levied on the supply of goods and services in India. It has replaced various taxes such as VAT, Central Excise Duty, and Service Tax. GST is a comprehensive tax that is levied at every stage of the supply chain, right from the manufacturer to the final consumer. The GST Council has classified goods and services into different tax slabs based on their nature and usage. The GST rate and HSN code for carpets and other textile floor coverings fall under Chapter 57.

GST Rate for Carpets and other Textile Floor Coverings

The GST rate for carpets and other textile floor coverings is 12%. This rate is applicable to all types of carpets and textile floor coverings, including mats, rugs, and durries. The GST rate is the same for all types of carpets, irrespective of their size, design, or material. The 12% GST rate is inclusive of the Central GST (CGST), State GST (SGST), and Integrated GST (IGST).

HSN Code for Carpets and other Textile Floor Coverings

The Harmonized System of Nomenclature (HSN) code is a unique identification code that is used to classify goods under GST. The HSN code for carpets and other textile floor coverings is 5701. The four-digit HSN code 5701 is for all types of carpets and textile floor coverings that are made of any material. The HSN code 5702 is for carpets and textile floor coverings that are made of wool or fine animal hair. The HSN code 5703 is for carpets and textile floor coverings that are made of jute or other textile bast fibers.

Conclusion

The GST rate and HSN code for carpets and other textile floor coverings fall under Chapter 57. The GST rate for carpets and other textile floor coverings is 12%, which is inclusive of the CGST, SGST, and IGST. The HSN code for carpets and other textile floor coverings is 5701, which is a four-digit code that is used to classify all types of carpets and textile floor coverings that are made of any material. Business owners and Start-up founders who deal with carpets and other textile floor coverings need to be aware of the GST rate and HSN code to ensure that they comply with the GST laws and regulations.