HSN Code: 50071000 Woven Fabrics Of Silk

50071000 is the designated HSN classification for Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk, categorized under Chapter 50 – Textiles And Textile Articles in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 0.025, SGST/UTGST at 0.025 for local transactions, and IGST at 0.05 for interstate supplies. Quantities are measured in m2 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 50071000

The tax structure for Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk under HSN Code 50071000 follows a dual taxation model. CGST is levied at 0.025 and SGST/UTGST at 0.025 for intrastate sales. Interstate transactions attract IGST at 0.05. All invoices must record quantities in m2 as the standard measurement for goods under Chapter 50 – Textiles And Textile Articles.

Who Should Use HSN Code 50071000?

Manufacturers, wholesalers, retailers, and exporters dealing in Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk are required to mention HSN 50071000 on all tax documents. This classification under Textiles And Textile Articles applies to businesses of all sizes operating within Chapter 50. Proper usage ensures accurate return filing and audit compliance.

Business Registration Requirements

Entering the Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk market requires essential registrations. GST registration enables legal tax collection on HSN 50071000 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 50071000 accurately for Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk avoids compliance issues and facilitates credit claims. Monitor changes to 0.025, 0.025, and 0.05 rates for Chapter 50 – Textiles And Textile Articles to maintain accurate filings and smooth business operations.

Frequently Asked Questions (FAQs)

What is the unit of measurement for HSN 50071000?

The standard unit of measurement for Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk under HSN Code 50071000 is m2. All invoices and GST returns must reflect quantities using this measurement standard.

Is HSN Code 50071000 mandatory for small businesses?

Yes, businesses dealing in Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk must use HSN 50071000 on invoices regardless of their size. The number of digits required may vary based on turnover thresholds set by GST rules.

What happens if I use wrong HSN code for Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk?

Using incorrect classification can result in wrong tax calculation, rejected input credits, and penalties during assessment. Always verify HSN 50071000 for Textiles And Textile Articles goods before invoicing.

Do I need AD Code registration for exporting Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk?

Yes, AD Code registration is required for exporters dealing in Woven Fabrics Of Silk Or Of Silk Waste Fabrics Of Noil Silk under Textiles And Textile Articles. This registration links your bank account to process foreign currency payments from overseas buyers.