55020020 is the designated HSN classification for Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow, categorized under Chapter 55 – Man-Made Staple Fibres in the GST tariff structure. Businesses involved in trading, manufacturing, or importing Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow must apply this code correctly on invoices and tax returns. The applicable tax rates include CGST at 9.00%, SGST/UTGST at 9.00% for local transactions, and IGST at 18.00% for interstate supplies. Quantities are measured in N.a for billing purposes.
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... | 55020010 | 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 55020020
The tax structure for Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow under HSN Code 55020020 follows a dual taxation model. CGST is levied at 9.00% and SGST/UTGST at 9.00% for intrastate sales. Interstate transactions attract IGST at 18.00%. All invoices must record quantities in N.a as the standard measurement for goods under Chapter 55 – Man-Made Staple Fibres.
Who Should Use HSN Code 55020020?
Any business engaged in supplying Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow must apply HSN 55020020 on invoices. The Man-Made Staple Fibres category under Chapter 55 requires this classification for wholesalers, retailers, exporters, and online marketplaces alike.
Business Registration Requirements
Looking to deal in Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow? GST registration is your first compliance requirement for HSN 55020020 goods. International traders in Man-Made Staple Fibres products must obtain an Import Export Code. AD Code registration facilitates export payment processing. Company registration should precede all other business approvals.
Why Correct Classification Matters
Correct HSN Code 55020020 application for Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow ensures smooth input credit utilization and assessment processes. Track 9.00%, 9.00%, and 18.00% rate changes for Chapter 55 – Man-Made Staple Fibres through official notifications for continuous compliance.
Frequently Asked Questions (FAQs)
What is HSN Code 55020020 used for?
HSN Code 55020020 is used to classify Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow under Chapter 55 – Man-Made Staple Fibres 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 55020020?
For Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow, CGST applies at 9.00% and SGST/UTGST at 9.00% for intrastate supplies. Interstate transactions are taxed under IGST at 18.00%.
Do I need GST registration to trade in Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow?
Yes, GST registration is mandatory for businesses dealing in Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow under HSN 55020020. This enables you to legally collect taxes and claim input credits on purchases.
What registrations are required for importing Artificial Filament Tow - Artificial Filament Tow : Viscose Rayon Tow?
For importing goods under Man-Made Staple Fibres, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.
