53062010 is the designated HSN classification for Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale, categorized under Chapter 53 – Other Vegetable Textile Fibre in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale 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 53 – Other Vegetable Textile Fibre
Below are related HSN codes from Chapter 53 – Other Vegetable Textile Fibre for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Other Vegetable Textile Fibre... | 53011000 | Flax, Raw Or Processed But Not Spun; Flax Tow And ... | 0.025 | 0.025 | 0.05 |
| Other Vegetable Textile Fibre... | 53012100 | Flax, Raw Or Processed But Not Spun; Flax Tow And ... | 0.025 | 0.025 | 0.05 |
| Other Vegetable Textile Fibre... | 53012900 | Flax, Raw Or Processed But Not Spun; Flax Tow And ... | 0.025 | 0.025 | 0.05 |
| Other Vegetable Textile Fibre... | 53013000 | Flax, Raw Or Processed But Not Spun; Flax Tow And ... | 0.025 | 0.025 | 0.05 |
| Other Vegetable Textile Fibre... | 53021000 | True Hemp (Cannabis Sativa L ), Raw Or Processed B... | 0.025 | 0.025 | 0.05 |
| Other Vegetable Textile Fibre... | 53029000 | True Hemp (Cannabis Sativa L ), Raw Or Processed B... | 0.025 | 0.025 | 0.05 |
| Other Vegetable Textile Fibre... | 53031010 | Jute And Other Textile Bast Fibres (Excluding Flax... | 2.50% | 2.50% | 5.00% |
| Other Vegetable Textile Fibre... | 53031090 | Jute And Other Textile Bast Fibres (Excluding Flax... | 0 | 0 | 0 |
| Other Vegetable Textile Fibre... | 53039010 | Jute And Other Textile Bast Fibres (Excluding Flax... | 0.00% | 0.00% | 0.00% |
| Other Vegetable Textile Fibre... | 53039090 | Jute And Other Textile Bast Fibres (Excluding Flax... | 0 | 0 | 0 |
GST Rates for HSN 53062010
The taxation of Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale under HSN Code 53062010 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 Other Vegetable Textile Fibre goods under Chapter 53.
Who Should Use HSN Code 53062010?
Traders, manufacturers, and importers of Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale are required to mention HSN Code 53062010 on all GST documents. This Other Vegetable Textile Fibre classification under Chapter 53 is mandatory for compliance across all business formats including online sellers.
Business Registration Requirements
Starting a business involving Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale? GST registration is mandatory for collecting and remitting taxes on HSN 53062010 goods. Companies planning international trade within Other Vegetable Textile Fibre 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
Accurate application of HSN Code 53062010 for Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 53 – Other Vegetable Textile Fibre should monitor rate updates (2.50%, 2.50%, 5.00%) through official notifications to maintain seamless compliance.
Frequently Asked Questions (FAQs)
What is HSN Code 53062010 used for?
HSN Code 53062010 is used to classify Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale under Chapter 53 – Other Vegetable Textile Fibre for GST purposes. Businesses must mention this code on invoices to ensure correct tax calculation and compliance.
What are the GST rates applicable on HSN 53062010?
For Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale, CGST applies at 2.50% and SGST/UTGST at 2.50% for intrastate supplies. Interstate transactions are taxed under IGST at 5.00%.
Do I need GST registration to trade in Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale?
Yes, GST registration is mandatory for businesses dealing in Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale under HSN 53062010. This enables you to legally collect taxes and claim input credits on purchases.
What registrations are required for importing Flax Yarn Multiple (Folded) Or Cabled :Put Up For Retail Sale?
For importing goods under Other Vegetable Textile Fibre, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.