New
Published on:
February 25, 2023
By
Paramita

Knitted Crocheted Fabrics Width More 30 CM - GST Rates HSN CODE 6004

Knitted and crocheted fabrics are popular choices for clothing and home textiles, especially in India. These fabrics are versatile, comfortable, and can be made in a variety of styles and designs. However, when it comes to selling or buying these fabrics, businesses need to be aware of the appropriate GST rates and HSN codes.

GST Rates for Knitted or Crocheted Fabrics Width More 30 Cm:

The GST rates for knitted or crocheted fabrics width more than 30 cm are as follows:

- 5% for cotton and natural fibers

- 12% for man-made fibers

- 18% for synthetic fibers

However, there are some exceptions to these rates. For example, GST on knitted or crocheted fabrics used for manufacturing garments is 5%, regardless of the fiber type.

HSN Code for Knitted or Crocheted Fabrics Width More 30 Cm:

HSN codes are used to classify goods for taxation purposes. The HSN code for knitted or crocheted fabrics width more than 30 cm is 6004. This code is used for all types of knitted or crocheted fabrics, whether made from cotton, man-made fibers, or synthetic fibers.

It is important for businesses to use the correct HSN code when selling or buying these fabrics. Using the wrong code can result in incorrect taxation, which can lead to penalties and fines.In summary, businesses selling or buying knitted or crocheted fabrics width more than 30 cm need to be aware of the appropriate GST rates and HSN codes. The rates vary depending on the fiber type, and exceptions apply for fabrics used for garment manufacturing. The HSN code for these fabrics is 6004, and using the correct code is essential for avoiding taxation errors.

Learn about the appropriate GST rates and HSN code for knitted or crocheted fabrics width more than 30 cm, including exceptions and the importance of using the correct code.

Suggestions



GST Rates and HSN Code for Molybdenum (HSN Code 8102)
E-Way Bill: Transportation of Goods in GST Regime
Residual Method of Valuation of Supply Under GST: A Comprehensive Guide

Updated on:
March 16, 2024