500600
SILK YARN AND YARN SPUN FROM SILK WASTE, PUT UP FOR RETAIL SALE, SILK WORM GUT :
Tax Calculator for 500600
E-Way Bill Rules
For silk yarn and yarn spun from silk waste, put up for retail sale, silk worm gut :, the E-Way Bill threshold is ₹50,000. Since the rate is 18%, you must generate a bill if the Taxable Value exceeds ₹42,372.
Example Calculation
- Base Value: ₹42,372
- + GST (18%): ₹7,626.96
- Total Invoice: ~₹50,000
Invoice Example
Breakdown for a sample invoice value of ₹1,000:
Why is RCM Applicable?
Since this is a specific category (likely Transport or Legal), the recipient pays the tax directly.
How Reverse Charge (RCM) Works
Can I claim ITC?
Yes, if used for business. This reduces your final cash liability.
Input Tax Credit (ITC) Logic
Compliance & Validation
HSN 500600 falls under Chapter 50. 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 (5006) is sufficient for B2B invoices.
Ensure that you charge 9% CGST and 9% SGST for intra-state supplies of silk yarn and yarn spun from silk waste, put up for retail sale, silk worm gut :. For inter-state supplies, the full 18% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 500600?
The GST rate for HSN Code 500600 (SILK YARN AND YARN SPUN FROM SILK WASTE, PUT UP FOR RETAIL SALE, SILK WORM GUT :) is 18%.
Q: Is HSN 500600 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 SILK YARN AND YARN SPUN FROM SILK WASTE, PUT UP FOR RETAIL SALE, SILK WORM GUT :?
Multiply the taxable value by 0.18. For ₹1000 value, GST is ₹180.
Q: Does Reverse Charge (RCM) apply?
Yes, RCM typically applies if purchased from unregistered suppliers.