Are you a small or medium business owner or a startup founder in the textile industry? Then, you might be aware of the Goods and Service Tax (GST) and the Harmonized System of Nomenclature (HSN) code. In this article, we will discuss the GST rates and HSN code for other textile fabrics, which falls under chapter 59 of the GST schedule.GST Rates for Other Textile FabricsThe GST council has levied different GST rates for different textile fabrics based on their usage, quality, and value. Under chapter 59 of the GST schedule, other textile fabrics fall under two categories, i.e., Cotton Fabrics and Man-Made Fabrics. Let's see the GST rates of both categories.
Cotton fabrics are natural fibers and are the most popular type of fabric in the world. The GST council has levied a 5% GST rate on cotton fabrics.
The following are the subcategories of cotton fabrics.
- Unbleached or bleached cotton fabrics
– HSN code 5208- Woven fabrics of cotton
– HSN code 5209- Knitted or crocheted fabrics of cotton
– HSN code 6214
Man-made fabrics are synthetic fibers and are made from chemical processes. The GST council has levied an 18% GST rate on man-made fabrics.
The following are the subcategories of man-made fabrics.
- Fabrics made from polyester
– HSN code 5407
- Fabrics made from viscose rayon
– HSN code 5516- Fabrics made from nylon
– HSN code 5408- Fabrics made from acrylic
– HSN code 5511- Fabrics made from spandex
– HSN code 6005- Fabrics made from elastane
– HSN code 6006
The HSN code is a six-digit code that is used to classify goods for taxation purposes. The HSN code for other textile fabrics is 5903. The HSN code helps in the identification of goods, their quality, and their value.
In conclusion, the GST rates and HSN code for other textile fabrics are essential for small and medium business owners and startup founders in the textile industry. By knowing the GST rates and HSN code, they can make informed decisions about their business operations and avoid any tax-related issues. Therefore, it is necessary to keep yourself updated with the latest GST rates and HSN codes to ensure compliance with the GST regulations.
This article discusses the GST rates and HSN code for other textile fabrics, which falls under chapter 59 of the GST schedule. The GST council has levied different GST rates for different textile fabrics based on their usage, quality, and value. The HSN code is a six-digit code that is used to classify goods for taxation purposes. By knowing the GST rates and HSN code, small and medium business owners and startup founders in the textile industry can make informed decisions about their business operations and avoid any tax-related issues.Textile IndustryGST and HSN Code
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