New
Published on:
February 25, 2023
By
Prerna

Yarn of Artificial Staple Fibres - GST Rates & HSN Code 5510

Yarns made of artificial staple fibres are used extensively in the textile and apparel industry. The Indian government, under the Goods and Services Tax (GST) system, has prescribed specific GST rates and HSN codes for yarn of artificial staple fibres.

In this article, we will discuss the GST rates and HSN code for yarn of artificial staple fibres.

GST Rates for Yarn of Artificial Staple Fibres

The GST rates for yarn of artificial staple fibres depend on the type of yarn and its denier value.

For yarns having a denier value of 23 or more but not exceeding 68, the GST rate is 12%. For yarns having a denier value of more than 68, the GST rate is 5%.

HSN Code for Yarn of Artificial Staple Fibres

The HSN code for yarn of artificial staple fibres is 5510. This HSN code is used for all types of yarn of artificial staple fibres.

Furthermore, the HSN code is used to determine the GST rate applicable on the yarn of artificial staple fibres. It is important to use the correct HSN code while filing GST returns to avoid any penalties or legal issues.

Conclusion

In conclusion, the GST rates and HSN code for yarn of artificial staple fibres are essential for business owners and entrepreneurs in the textile and apparel industry. It is important to understand the correct GST rate and HSN code for the yarn being produced or traded to avoid any legal issues or penalties.

We hope this article has provided valuable insights into the GST rates and HSN code for yarn of artificial staple fibres. For any queries or assistance regarding GST rates and HSN codes, please consult a professional tax consultant.

Suggestions



Hydrazine Hydroxylamine - GST Rates HSN Code 2825
Top 5 artificial jewelry market in India
Instrument Panel Clocks - GST Rates & HSN Code 9104

Updated on:
March 16, 2024