Knitted Crocheted Fabrics - GST Rates HSN CODE 6002

Knitted and crocheted fabrics have been a part of the Indian textile industry for a long time. The GST rates for these fabrics have been revised several times since the implementation of GST in India. In this article, we will discuss the GST rates and HSN code for knitted or crocheted fabrics.

HSN stands for Harmonized System of Nomenclature, which is a globally recognized system for classifying goods. It is used by over 200 countries, including India. HSN codes are used to classify goods for taxation purposes. The HSN code for knitted or crocheted fabrics is 6002. GST Rates for Knitted or Crocheted Fabrics

The GST rates for knitted or crocheted fabrics vary depending on the type of fabric and its value. The GST rates for knitted or crocheted fabrics are as follows:- 5% GST on knitted or crocheted fabrics of cotton, wool or silk- 12% GST on knitted or crocheted fabrics of man-made fibers- 18% GST on knitted or crocheted fabrics of other materials.

It is important to note that these rates are subject to change as per the government's policies.

As mentioned earlier, the HSN code for knitted or crocheted fabrics is 6002. The HSN code is used to classify goods for taxation purposes. This code is used to determine the GST rates for different types of fabrics.

Knitted or Crocheted Fabrics with Different Values

The GST rates for knitted or crocheted fabrics also depend on their value. The GST rates for knitted or crocheted fabrics with different values are as follows:

- 5% GST on knitted or crocheted fabrics with a value of up to Rs. 1,000 per meter

- 12% GST on knitted or crocheted fabrics with a value of Rs. 1,000 to Rs. 2,500 per meter

- 18% GST on knitted or crocheted fabrics with a value of more than Rs. 2,500 per meter

It is important to note that the above rates are only applicable if the fabrics are sold as rolls or bolts. If the fabrics are sold in pieces, the GST rates may vary.

Conclusion

In conclusion, the GST rates and HSN code for knitted or crocheted fabrics are crucial for small and medium business owners and startup founders in India. They need to be aware of the GST rates and HSN code to avoid any legal complications. The GST rates for knitted or crocheted fabrics vary depending on the type of fabric, its value, and the government's policies. The HSN code for knitted or crocheted fabrics is 6002. In this article, we have discussed the GST rates and HSN code for knitted or crocheted fabrics. The GST rates for these fabrics have been revised several times since the implementation of GST in India. The HSN code for knitted or crocheted fabrics is 6002. The GST rates for these fabrics depend on the type of fabric, its value, and the government's policies. Business owners and startup founders need to be aware of the GST rates and HSN code to avoid any legal complications