50040010 is the designated HSN classification for (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn, categorized under Chapter 50 – Textiles And Textile Articles in the GST tariff structure. Businesses involved in trading, manufacturing, or importing (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 2.50%, SGST/UTGST at 2.50% for local transactions, and IGST at 5.00% for interstate supplies. Quantities are measured in kg. for billing purposes.
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... | 50020030 | Raw Silk (Not Thrown) Raw Silk (Not Thrown) Non-Mu... | 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 |
GST Rates for HSN 50040010
The taxation of (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn under HSN Code 50040010 depends on supply location. Intrastate transactions require CGST at 2.50% and SGST/UTGST at 2.50%. Interstate supplies are charged IGST at 5.00%. Invoices should consistently use kg. for Textiles And Textile Articles goods under Chapter 50.
Who Should Use HSN Code 50040010?
Traders, manufacturers, and importers of (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn are required to mention HSN Code 50040010 on all GST documents. This Textiles And Textile Articles classification under Chapter 50 is mandatory for compliance across all business formats including online sellers.
Business Registration Requirements
Entering the (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn market requires essential registrations. GST registration enables legal tax collection on HSN 50040010 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
Correct HSN Code 50040010 application for (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn ensures smooth input credit utilization and assessment processes. Track 2.50%, 2.50%, and 5.00% rate changes for Chapter 50 – Textiles And Textile Articles through official notifications for continuous compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 50040010 should I mention on invoices?
The number of HSN digits depends on your annual turnover. Businesses with turnover above Rs 5 crore must mention 6 digits, while others may use 4 digits. Always use the complete HSN 50040010 for accurate classification of (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn.
Can I claim input tax credit on (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn purchases?
Yes, registered businesses can claim input tax credit on (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn purchases made under HSN 50040010. Ensure your supplier mentions correct HSN code and GST rates (2.50%, 2.50%) on the invoice.
What is the difference between CGST and IGST for HSN 50040010?
CGST at 2.50% plus SGST/UTGST at 2.50% applies when (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn is sold within the same state. IGST at 5.00% is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn domestically?
No, Import Export Code is only required if you plan to import or export (Other Than Yarn Spun From Silk Waste) Not Put Up For Retail Sale : 100 Percent Mulberry Dupion Silk Yarn internationally. For domestic trade within Textiles And Textile Articles, GST registration is sufficient.