HSN Code 55041020 provides the tax classification for Obtained From Bamboo under Chapter 55 – Man-Made Staple Fibres of the GST tariff. Businesses dealing in Obtained From Bamboo must use this code for proper invoicing and return filing. Applicable taxes include CGST at 9.00%, SGST/UTGST at 9.00%, and IGST at 18.00%. The recognized unit of measurement is 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... | 55020010 | Artificial Filament Tow - Artificial Filament Tow ... | 9.00% | 9.00% | 18.00% |
| Man-Made Staple Fibres... | 55020020 | Artificial Filament Tow - Artificial Filament Tow ... | 9.00% | 9.00% | 18.00% |
GST Rates for HSN 55041020
Goods classified as Obtained From Bamboo under HSN 55041020 are taxed based on transaction type. Local sales attract CGST at 9.00% plus SGST/UTGST at 9.00%. For supplies crossing state boundaries, IGST at 18.00% applies. Documentation must reflect N.a as the measurement standard for Chapter 55 – Man-Made Staple Fibres products.
Who Should Use HSN Code 55041020?
Manufacturers, wholesalers, retailers, and exporters dealing in Obtained From Bamboo are required to mention HSN 55041020 on all tax documents. This classification under Man-Made Staple Fibres applies to businesses of all sizes operating within Chapter 55. Proper usage ensures accurate return filing and audit compliance.
Business Registration Requirements
Looking to deal in Obtained From Bamboo? GST registration is your first compliance requirement for HSN 55041020 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
Using HSN Code 55041020 accurately for Obtained From Bamboo 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)
Where can I find the official GST rate for HSN 55041020?
Official GST rates for Obtained From Bamboo under HSN 55041020 are published in government notifications and the CBIC website. Current rates are CGST 9.00%, SGST/UTGST 9.00%, and IGST 18.00%.
Do online marketplaces need to mention HSN 55041020?
Yes, online marketplaces and e-commerce operators selling Obtained From Bamboo must mention HSN Code 55041020 on invoices. This Man-Made Staple Fibres classification applies to all sales channels under Chapter 55.
What documents are needed for company registration to trade in Obtained From Bamboo?
For company registration, you need identity proof, address proof, and registered office documents. Once registered, apply for GST registration to start trading in Obtained From Bamboo under HSN 55041020.
How often do GST rates change for Man-Made Staple Fibres products?
GST rates for Obtained From Bamboo and other Man-Made Staple Fibres products under Chapter 55 may change through GST Council recommendations. Monitor official notifications to stay updated on 9.00%, 9.00%, and 18.00% revisions.
