46021011
BASKETWORK, WICKERWORK AND OTHER ARTICLES, MADE DIRECTLY TO SHAPE FROM PLAITING MATERIALS OR MADE UP FROM GOODS OF HEADING 46 01; ARTICLES OF LOOFAH OF VEGETABLE MATERIALS : OF PALM LEAVES : BASKETS
Tax Calculator for 46021011
E-Way Bill Rules
For basketwork, wickerwork and other articles, made directly to shape from plaiting materials or made up from goods of heading 46 01; articles of loofah of vegetable materials : of palm leaves : baskets, the E-Way Bill threshold is ₹50,000. Since the rate is 5%, you must generate a bill if the Taxable Value exceeds ₹47,619.
Example Calculation
- Base Value: ₹47,619
- + GST (5%): ₹2,380.95
- Total Invoice: ~₹50,000
Invoice Example
Breakdown for a sample invoice value of ₹1,000:
Can I claim ITC?
Yes, if used for business. This reduces your final cash liability.
Input Tax Credit (ITC) Logic
Compliance & Validation
HSN 46021011 falls under Chapter 46. It is mandatory to mention this code on invoices if your annual turnover exceeds ₹5 Crore. For turnover below ₹5 Crore, mentioning the 4-digit code (4602) is sufficient for B2B invoices.
Ensure that you charge 2.5% CGST and 2.5% SGST for intra-state supplies of basketwork, wickerwork and other articles, made directly to shape from plaiting materials or made up from goods of heading 46 01; articles of loofah of vegetable materials : of palm leaves : baskets. For inter-state supplies, the full 5% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 46021011?
The GST rate for HSN Code 46021011 (BASKETWORK, WICKERWORK AND OTHER ARTICLES, MADE DIRECTLY TO SHAPE FROM PLAITING MATERIALS OR MADE UP FROM GOODS OF HEADING 46 01; ARTICLES OF LOOFAH OF VEGETABLE MATERIALS : OF PALM LEAVES : BASKETS) is 5%.
Q: Is HSN 46021011 eligible for Input Tax Credit (ITC)?
ITC availability is classified as 'eligible'. Generally, businesses can claim ITC unless used for personal consumption or blocked under Section 17(5).
Q: How to calculate GST amount for BASKETWORK, WICKERWORK AND OTHER ARTICLES, MADE DIRECTLY TO SHAPE FROM PLAITING MATERIALS OR MADE UP FROM GOODS OF HEADING 46 01; ARTICLES OF LOOFAH OF VEGETABLE MATERIALS : OF PALM LEAVES : BASKETS?
Multiply the taxable value by 0.05. For ₹1000 value, GST is ₹50.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.