Under the GST regime, HSN Code 55049020 classifies Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre within Chapter 55 – Man-Made Staple Fibres. This code is essential for businesses to correctly calculate and remit taxes on Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre. The applicable rates are CGST at 9.00%, SGST/UTGST at 9.00% for within-state sales, and IGST at 18.00% for interstate supplies. Goods are quantified using kg..
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 55049020
The taxation of Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre under HSN Code 55049020 depends on supply location. Intrastate transactions require CGST at 9.00% and SGST/UTGST at 9.00%. Interstate supplies are charged IGST at 18.00%. Invoices should consistently use kg. for Man-Made Staple Fibres goods under Chapter 55.
Who Should Use HSN Code 55049020?
Any business engaged in supplying Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre must apply HSN 55049020 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
Commencing trade in Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre? Secure GST registration to handle taxes on HSN 55049020 classified goods. Businesses with international operations in Man-Made Staple Fibres 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
Proper use of HSN Code 55049020 for Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre streamlines audit processes and supports valid credit claims. Stay updated on 9.00%, 9.00%, and 18.00% rates for Chapter 55 – Man-Made Staple Fibres through government circulars to ensure uninterrupted compliance.
Frequently Asked Questions (FAQs)
How many digits of HSN Code 55049020 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 55049020 for accurate classification of Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre.
Can I claim input tax credit on Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre purchases?
Yes, registered businesses can claim input tax credit on Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre purchases made under HSN 55049020. 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 55049020?
CGST at 9.00% plus SGST/UTGST at 9.00% applies when Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre 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 Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre domestically?
No, Import Export Code is only required if you plan to import or export Artificial Staple Fibres, Not Carded, Combed Or Otherwise Processed For Spinning - Other Polynosic Staple Fibre internationally. For domestic trade within Man-Made Staple Fibres, GST registration is sufficient.
