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Published on:
February 25, 2023
By
Paramita

Silk Regenerated And Synthetic Fibre Machinery - GST Rates  HSN Code 4423

If you are a small or medium business owner or a startup founder in the textile industry, you must be aware of the various aspects of GST rates and HSN codes. In this article, we will discuss GST rates and HSN codes for Silk Regenerated And Synthetic Fibre Machinery in India.

Silk Regenerated And Synthetic Fibre Machinery falls under the category of textile machinery, which is an essential part of the Indian textile industry. The government has levied a GST rate of 18% on textile machinery, which includes Silk Regenerated And Synthetic Fibre Machinery. This rate is applicable to both Indian and imported machinery.

HSN Code 4423

HSN stands for Harmonized System of Nomenclature, which is an internationally accepted system of names and numbers for classifying traded products. HSN code 4423 is applicable to textile machinery and parts thereof, which includes Silk Regenerated And Synthetic Fibre Machinery.

The HSN code for Silk Regenerated And Synthetic Fibre Machinery is 8445.

This code is used to identify the specific category of machinery for taxation purposes. It is important to note that the HSN code for Silk Regenerated And Synthetic Fibre Machinery is the same for both Indian and imported machinery.

Conclusion

In conclusion, we can say that Silk Regenerated And Synthetic Fibre Machinery is an important part of the textile industry in India. The government has levied a GST rate of 18% on textile machinery, which includes Silk Regenerated And Synthetic Fibre Machinery. The HSN code applicable to Silk Regenerated And Synthetic Fibre Machinery is 4423, which is further classified into 8445. It is essential for small and medium business owners and startup founders in the textile industry to be aware of these GST rates and HSN codes for Silk Regenerated And Synthetic Fibre Machinery to comply with the tax regulations in India.

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Updated on:
March 16, 2024