As a small business owner or a startup founder, it is essential to have a good understanding of the GST rates and HSN codes applicable to your business. In this article, we will discuss the GST rates and HSN code for T-Shirts and Singlets.
The GST rates for T-Shirts and Singlets depend on the value of the product.
1. If the value of the T-Shirt or Singlet is less than Rs. 1000, the GST rate is 5%.
2. If the value of the T-Shirt or Singlet is between Rs. 1000 and Rs. 7500, the GST rate is 12%.
3. If the value of the T-Shirt or Singlet is more than Rs. 7500, the GST rate is 18%.
It is important to note that the GST rates are inclusive of all taxes and are applicable on the sale price of the product.
The HSN code for T-Shirts and Singlets is 6109.
The HSN code is a 6-digit code that is used to classify goods and services for taxation purposes. The first two digits of the code represent the chapter under which the product falls, while the next two digits represent the heading under which the product falls. The last two digits represent the subheading under which the product falls.
The HSN code for T-Shirts and Singlets falls under Chapter 61 – Articles of Apparel and Clothing Accessories, Knitted or Crocheted.
In conclusion, as a small business owner or a startup founder, it is important to have a good understanding of the GST rates and HSN codes applicable to your business. The GST rates for T-Shirts and Singlets depend on the value of the product, while the HSN code for T-Shirts and Singlets is 6109.
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