Within Chapter 50 – Textiles And Textile Articles, HSN Code 50060029 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 : Other. 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 : Other. 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 50060029
Goods classified as 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 : Other under HSN 50060029 are taxed based on transaction type. Local sales attract CGST at 2.50% plus SGST/UTGST at 2.50%. For supplies crossing state boundaries, IGST at 5.00% applies. Documentation must reflect kg. as the measurement standard for Chapter 50 – Textiles And Textile Articles products.
Who Should Use HSN Code 50060029?
All businesses supplying 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 : Other are obligated to use HSN 50060029 on tax invoices. From producers to retailers within Textiles And Textile Articles, Chapter 50 classification ensures uniform tax treatment. This requirement applies regardless of turnover or business model.
Business Registration Requirements
Looking to deal 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 : Other? GST registration is your first compliance requirement for HSN 50060029 goods. International traders in Textiles And Textile Articles products must obtain an Import Export Code. AD Code registration facilitates export payment processing. Company registration should precede all other business approvals.
Why Correct Classification Matters
Accurate HSN Code 50060029 usage 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 : Other simplifies reconciliation and protects against penalties. Keep current with 2.50%, 2.50%, and 5.00% updates for Chapter 50 – Textiles And Textile Articles to ensure ongoing compliance.
Frequently Asked Questions (FAQs)
HSN Code 50060029 is used to classify 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 : Other under Chapter 50 – Textiles And Textile Articles for GST purposes. Businesses must mention this code on invoices to ensure correct tax calculation and compliance.
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 : Other, CGST applies at 2.50% and SGST/UTGST at 2.50% for intrastate supplies. Interstate transactions are taxed under IGST at 5.00%.
Yes, GST registration is mandatory for 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 : Other under HSN 50060029. This enables you to legally collect taxes and claim input credits on purchases.
For importing goods under Textiles And Textile Articles, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.