Within Chapter 55 – Man-Made Staple Fibres, HSN Code 55020010 serves as the official classification for Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow. This code determines tax rates and compliance obligations for all entities trading in Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow. CGST applies at 9.00%, SGST/UTGST at 9.00% for local transactions, and IGST at 18.00% for interstate supplies. Measurement is standardized in N.a.
HSN Codes under Chapter 55 – Man-Made Staple Fibres
Below are related HSN codes from Chapter 55 – Man-Made Staple Fibres for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Man-Made Staple Fibres... | 55011000 | Synthetic Filament Tow - Of Nylon Or Other Polyami... | 0.09 | 0.09 | 0.18 |
| Man-Made Staple Fibres... | 55011100 | Man-Made Staple Fibres~Synthetic Filament Tow~ Of ... | 0.09 | 0.09 | 0.18 |
| Man-Made Staple Fibres... | 55011900 | Man-Made Staple Fibres~Synthetic Filament Tow~ Oth... | 0.09 | 0.09 | 0.18 |
| Man-Made Staple Fibres... | 55012000 | Synthetic Filament Tow - Of Polyesters | 0.09 | 0.09 | 0.18 |
| Man-Made Staple Fibres... | 55013000 | Synthetic Filament Tow - Acrylic Or Modacrylic | 0.09 | 0.09 | 0.18 |
| Man-Made Staple Fibres... | 55014000 | Synthetic Filament Tow - Of Polypropylene | 0.09 | 0.09 | 0.18 |
| Man-Made Staple Fibres... | 55019010 | Synthetic Filament Tow - Other : Of Polypropylene | 9.00% | 9.00% | 18.00% |
| Man-Made Staple Fibres... | 55019090 | Synthetic Filament Tow - Other : Other | 0.09 | 0.09 | 0.18 |
| Man-Made Staple Fibres... | 55020020 | Artificial Filament Tow - Artificial Filament Tow ... | 9.00% | 9.00% | 18.00% |
| Man-Made Staple Fibres... | 55020090 | Artificial Filament Tow - Artificial Filament Tow ... | 0.09 | 0.09 | 0.18 |
GST Rates for HSN 55020010
Tax liability for Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow under HSN 55020010 varies by transaction geography. CGST at 9.00% combined with SGST/UTGST at 9.00% applies to local sales. Interstate movement attracts IGST at 18.00%. All billing for Chapter 55 – Man-Made Staple Fibres products must use N.a.
Who Should Use HSN Code 55020010?
Every entity transacting in Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow must quote HSN Code 55020010 on invoices. This includes traders, distributors, and e-commerce sellers operating under Man-Made Staple Fibres. Chapter 55 mandates this classification for accurate tax computation across the supply chain.
Business Registration Requirements
Entering the Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow market requires essential registrations. GST registration enables legal tax collection on HSN 55020010 goods. For cross-border trade in Man-Made Staple Fibres 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 55020010 accurately for Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow avoids compliance issues and facilitates credit claims. Monitor changes to 9.00%, 9.00%, and 18.00% rates for Chapter 55 – Man-Made Staple Fibres to maintain accurate filings and smooth business operations.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 55020010 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 55020010 for accurate classification of Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow.
Can I claim input tax credit on Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow purchases?
Yes, registered businesses can claim input tax credit on Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow purchases made under HSN 55020010. Ensure your supplier mentions correct HSN code and GST rates (9.00%, 9.00%) on the invoice.
What is the difference between CGST and IGST for HSN 55020010?
CGST at 9.00% plus SGST/UTGST at 9.00% applies when Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow is sold within the same state. IGST at 18.00% is charged when goods move across state borders or are imported.
Is Import Export Code necessary for trading Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow domestically?
No, Import Export Code is only required if you plan to import or export Artificial Filament Tow - Artificial Filament Tow : Acetate Rayon Tow internationally. For domestic trade within Man-Made Staple Fibres, GST registration is sufficient.
