Within Chapter 50 – Textiles And Textile Articles, HSN Code 50060021 serves as the official classification for Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr.... This code determines tax rates and compliance obligations for all entities trading in Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr.... CGST applies at 2.50%, SGST/UTGST at 2.50% for local transactions, and IGST at 5.00% for interstate supplies. Measurement is standardized in 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... | 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 50060021
The taxation of Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr... under HSN Code 50060021 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 50060021?
Traders, manufacturers, and importers of Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr... are required to mention HSN Code 50060021 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 Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr... market requires essential registrations. GST registration enables legal tax collection on HSN 50060021 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 50060021 application for Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr... 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)
The standard unit of measurement for Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr... under HSN Code 50060021 is kg.. All invoices and GST returns must reflect quantities using this measurement standard.
Yes, businesses dealing in Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr... must use HSN 50060021 on invoices regardless of their size. The number of digits required may vary based on turnover thresholds set by GST rules.
Using incorrect classification can result in wrong tax calculation, rejected input credits, and penalties during assessment. Always verify HSN 50060021 for Textiles And Textile Articles goods before invoicing.
Yes, AD Code registration is required for exporters dealing in Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk-Worm Gut Silk Yarn And Yarn Spun From Silk Waste, Put Up For Retail Sale; Silk Worm Gut: Yarn Spun From Silk Waste Containing 85 Percent Or More By Weight Of Silk : Silk Embroidery Thr... under Textiles And Textile Articles. This registration links your bank account to process foreign currency payments from overseas buyers.