Under the GST regime, HSN Code 58021950 classifies Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom within Chapter 58 – Special Woven Fabrics; Tufted. This code is essential for businesses to correctly calculate and remit taxes on Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom. The applicable rates are CGST at 6.00%, SGST/UTGST at 6.00% for within-state sales, and IGST at 12.00% for interstate supplies. Goods are quantified using N.a.
HSN Codes under Chapter 58 – Special Woven Fabrics; Tufted
Below are related HSN codes from Chapter 58 – Special Woven Fabrics; Tufted for your reference:
| Chapter | HSN Code | Description | CGST | SGST/UTGST | IGST |
|---|---|---|---|---|---|
| Special Woven Fabrics; Tufted... | 58011000 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 0.025 | 0.025 | 0.05 |
| Special Woven Fabrics; Tufted... | 58012100 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 0.025 | 0.025 | 0.05 |
| Special Woven Fabrics; Tufted... | 58012210 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 2.50% | 2.50% | 5.00% |
| Special Woven Fabrics; Tufted... | 58012290 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 0.025 | 0.025 | 0.05 |
| Special Woven Fabrics; Tufted... | 58012300 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 0.025 | 0.025 | 0.05 |
| Special Woven Fabrics; Tufted... | 58012600 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 0.025 | 0.025 | 0.05 |
| Special Woven Fabrics; Tufted... | 58012710 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 2.50% | 2.50% | 5.00% |
| Special Woven Fabrics; Tufted... | 58012720 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 2.50% | 2.50% | 5.00% |
| Special Woven Fabrics; Tufted... | 58012790 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 0.025 | 0.025 | 0.05 |
| Special Woven Fabrics; Tufted... | 58013100 | Woven Pile Fabrics And Chenille Fabrics, Other Tha... | 0.025 | 0.025 | 0.05 |
GST Rates for HSN 58021950
Goods classified as Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom under HSN 58021950 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 N.a as the measurement standard for Chapter 58 – Special Woven Fabrics; Tufted products.
Who Should Use HSN Code 58021950?
Manufacturers, wholesalers, retailers, and exporters dealing in Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom are required to mention HSN 58021950 on all tax documents. This classification under Special Woven Fabrics; Tufted applies to businesses of all sizes operating within Chapter 58. Proper usage ensures accurate return filing and audit compliance.
Business Registration Requirements
Planning to trade in Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom? Complete GST registration to legally collect taxes on goods under HSN 58021950. Businesses importing or exporting Special Woven Fabrics; Tufted products require an Import Export Code. AD Code registration is essential for exporters to process international payments. Entrepreneurs should secure company registration as the foundational step.
Why Correct Classification Matters
Accurate application of HSN Code 58021950 for Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom enables legitimate input tax credit claims and prevents assessment disputes. Businesses under Chapter 58 – Special Woven Fabrics; Tufted should monitor rate updates (6.00%, 6.00%, 12.00%) through official notifications to maintain seamless compliance.
Frequently Asked Questions (FAQs)
What is HSN Code 58021950 used for?
HSN Code 58021950 is used to classify Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom under Chapter 58 – Special Woven Fabrics; Tufted 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 58021950?
For Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom, CGST applies at 6.00% and SGST/UTGST at 6.00% for intrastate supplies. Interstate transactions are taxed under IGST at 12.00%.
Do I need GST registration to trade in Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom?
Yes, GST registration is mandatory for businesses dealing in Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom under HSN 58021950. This enables you to legally collect taxes and claim input credits on purchases.
What registrations are required for importing Terry Towelling And Similar Woven Terry Fabrics, Of Cotton - Of Handloom?
For importing goods under Special Woven Fabrics; Tufted, you need GST registration along with an Import Export Code. Exporters should also obtain AD Code registration for processing international payments.
