Within Chapter 50 – Textiles And Textile Articles, HSN Code 50060039 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 Less 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 Less 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 50060039
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 Less By Weight Of Silk : Other under HSN Code 50060039 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 50060039?
Every entity transacting 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 Less By Weight Of Silk : Other must quote HSN Code 50060039 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
Starting a business involving 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 Less By Weight Of Silk : Other? GST registration is mandatory for collecting and remitting taxes on HSN 50060039 goods. Companies planning international trade within Textiles And Textile Articles must obtain an Import Export Code. Exporters need AD Code registration for receiving foreign payments. New entrepreneurs should complete company registration before pursuing trade-specific approvals.
Why Correct Classification Matters
Correct HSN Code 50060039 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 Less By Weight Of Silk : Other 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 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 50060039 for accurate classification 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 Less By Weight Of Silk : Other.
Yes, registered businesses can claim input tax credit on 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 Less By Weight Of Silk : Other purchases made under HSN 50060039. Ensure your supplier mentions correct HSN code and GST rates (2.50%, 2.50%) on the invoice.
CGST at 2.50% plus SGST/UTGST at 2.50% applies when 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 Less By Weight Of Silk : Other is sold within the same state. IGST at 5.00% is charged when goods move across state borders or are imported.
No, Import Export Code is only required if you plan to import or export 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 Less By Weight Of Silk : Other internationally. For domestic trade within Textiles And Textile Articles, GST registration is sufficient.