Within Chapter 54 – Man-Made Filaments; Strip And, HSN Code 54060020 serves as the official classification for Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn. This code determines tax rates and compliance obligations for all entities trading in Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn. CGST applies at 6.00%, SGST/UTGST at 6.00% for local transactions, and IGST at 12.00% for interstate supplies. Measurement is standardized in kg..
HSN Codes under Chapter 54 – Man-Made Filaments; Strip And
Below are related HSN codes from Chapter 54 – Man-Made Filaments; Strip And for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Man-Made Filaments; Strip And... | 54011000 | Sewing Thread Of Man-Made Filaments, Whether Or No... | 0.06 | 0.06 | 0.12 |
| Man-Made Filaments; Strip And... | 54012000 | Sewing Thread Of Man-Made Filaments, Whether Or No... | 0.06 | 0.06 | 0.12 |
| Man-Made Filaments; Strip And... | 54021010 | Synthetic Filament Yarn (Other Than Sewing Thread)... | 9.00% | 9.00% | 18.00% |
| Man-Made Filaments; Strip And... | 54021090 | Synthetic Filament Yarn (Other Than Sewing Thread)... | 0.09 | 0.09 | 0.18 |
| Man-Made Filaments; Strip And... | 54021100 | Synthetic Filament Yarn (Other Than Sewing Thread)... | 9.00% | 9.00% | 18.00% |
| Man-Made Filaments; Strip And... | 54021110 | High Tenacity Yarn Of Nylon Or Other Polyamides | 0.09 | 0.09 | 0.18 |
| Man-Made Filaments; Strip And... | 54021910 | Other High Tenacity Yarn Of Nylon Or Other Polyami... | 9.00% | 9.00% | 18.00% |
| Man-Made Filaments; Strip And... | 54021920 | Nylon 66 Filament Yarn Confirming To Is 13464 | 9.00% | 9.00% | 18.00% |
| Man-Made Filaments; Strip And... | 54021990 | Other High Tenacity Yarn Of Nylon Or Other Polyami... | 0.09 | 0.09 | 0.18 |
| Man-Made Filaments; Strip And... | 54022010 | Synthetic Filament Yarn (Other Than Sewing Thread)... | 9.00% | 9.00% | 18.00% |
GST Rates for HSN 54060020
Goods classified as Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn under HSN 54060020 are taxed based on transaction type. Local sales attract CGST at 6.00% plus SGST/UTGST at 6.00%. For supplies crossing state boundaries, IGST at 12.00% applies. Documentation must reflect kg. as the measurement standard for Chapter 54 – Man-Made Filaments; Strip And products.
Who Should Use HSN Code 54060020?
Every entity transacting in Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn must quote HSN Code 54060020 on invoices. This includes traders, distributors, and e-commerce sellers operating under Man-Made Filaments; Strip And. Chapter 54 mandates this classification for accurate tax computation across the supply chain.
Business Registration Requirements
Commencing trade in Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn? Secure GST registration to handle taxes on HSN 54060020 classified goods. Businesses with international operations in Man-Made Filaments; Strip And need an Import Export Code. Exporters require AD Code registration for foreign currency receipts. Start with company registration to formalize your business structure.
Why Correct Classification Matters
Correct HSN Code 54060020 application for Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn ensures smooth input credit utilization and assessment processes. Track 6.00%, 6.00%, and 12.00% rate changes for Chapter 54 – Man-Made Filaments; Strip And through official notifications for continuous compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 54060020 should I mention on invoices?
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 54060020 for accurate classification of Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn.
Can I claim input tax credit on Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn purchases?
Yes, registered businesses can claim input tax credit on Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn purchases made under HSN 54060020. Ensure your supplier mentions correct HSN code and GST rates (6.00%, 6.00%) on the invoice.
What is the difference between CGST and IGST for HSN 54060020?
CGST at 6.00% plus SGST/UTGST at 6.00% applies when Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn is sold within the same state. IGST at 12.00% is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn domestically?
No, Import Export Code is only required if you plan to import or export Man-Made Filament Yarn (Other Than Sewing Thread), Put Up For Retail Sale, Artificial Filament Yarn internationally. For domestic trade within Man-Made Filaments; Strip And, GST registration is sufficient.
