Under the GST regime, HSN Code 50020030 classifies Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk within Chapter 50 – Textiles And Textile Articles. This code is essential for businesses to correctly calculate and remit taxes on Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk. The applicable rates are CGST at Nil, SGST/UTGST at Nil for within-state sales, and IGST at Nil for interstate supplies. Goods are quantified using kg..
HSN Codes under Chapter 50 – Textiles And Textile Articles
Below are related HSN codes from Chapter 50 – Textiles And Textile Articles for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Textiles And Textile Articles... | 50010000 | Silk-Worm Cocoons Suitable For Reeling | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50020010 | Raw Silk (Not Thrown) Raw Silk (Not Thrown) Mulber... | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50020020 | Raw Silk (Not Thrown) Raw Silk (Not Thrown) Mulber... | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50030010 | Mulberry Silk Waste | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50030020 | Tussar Silk Waste | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50030030 | Dri Waste | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50030040 | Munga Waste | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50030090 | Silk Waste - Other | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50031010 | Silk Waste (Including Cocoons Unsuitable For Reeli... | Nil | Nil | Nil |
| Textiles And Textile Articles... | 50031020 | Silk Waste (Including Cocoons Unsuitable For Reeli... | Nil | Nil | Nil |
GST Rates for HSN 50020030
Tax liability for Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk under HSN 50020030 varies by transaction geography. CGST at Nil combined with SGST/UTGST at Nil applies to local sales. Interstate movement attracts IGST at Nil. All billing for Chapter 50 – Textiles And Textile Articles products must use kg..
Who Should Use HSN Code 50020030?
Every entity transacting in Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk must quote HSN Code 50020030 on invoices. This includes traders, distributors, and e-commerce sellers operating under Textiles And Textile Articles. Chapter 50 mandates this classification for accurate tax computation across the supply chain.
Business Registration Requirements
Entering the Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk market requires essential registrations. GST registration enables legal tax collection on HSN 50020030 goods. For cross-border trade in Textiles And Textile Articles items, secure an Import Export Code. Exporters additionally need AD Code registration for bank processing. Begin with company registration to establish your business entity.
Why Correct Classification Matters
Using HSN Code 50020030 accurately for Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk avoids compliance issues and facilitates credit claims. Monitor changes to Nil, Nil, and Nil rates for Chapter 50 – Textiles And Textile Articles to maintain accurate filings and smooth business operations.
Frequently Asked Questions (FAQs)
Where can I find the official GST rate for HSN 50020030?
Official GST rates for Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk under HSN 50020030 are published in government notifications and the CBIC website. Current rates are CGST Nil, SGST/UTGST Nil, and IGST Nil.
Do online marketplaces need to mention HSN 50020030?
Yes, online marketplaces and e-commerce operators selling Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk must mention HSN Code 50020030 on invoices. This Textiles And Textile Articles classification applies to all sales channels under Chapter 50.
What documents are needed for company registration to trade in Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk?
For company registration, you need identity proof, address proof, and registered office documents. Once registered, apply for GST registration to start trading in Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk under HSN 50020030.
How often do GST rates change for Textiles And Textile Articles products?
GST rates for Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mulberry Silk and other Textiles And Textile Articles products under Chapter 50 may change through GST Council recommendations. Monitor official notifications to stay updated on Nil, Nil, and Nil revisions.