540231
OF NYLON OR OTHER POLYAMIDES, MEASURING PER SINGLE YARN NOT MORE THAN 50 TEX
Tax Calculator for 540231
E-Way Bill Rules
For of nylon or other polyamides, measuring per single yarn not more than 50 tex, 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:
Can I claim ITC?
Yes, if used for business. This reduces your final cash liability.
Input Tax Credit (ITC) Logic
Compliance & Validation
HSN 540231 falls under Chapter 54. 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 (5402) is sufficient for B2B invoices.
Ensure that you charge 9% CGST and 9% SGST for intra-state supplies of of nylon or other polyamides, measuring per single yarn not more than 50 tex. For inter-state supplies, the full 18% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 540231?
The GST rate for HSN Code 540231 (OF NYLON OR OTHER POLYAMIDES, MEASURING PER SINGLE YARN NOT MORE THAN 50 TEX) is 18%.
Q: Is HSN 540231 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 OF NYLON OR OTHER POLYAMIDES, MEASURING PER SINGLE YARN NOT MORE THAN 50 TEX?
Multiply the taxable value by 0.18. For ₹1000 value, GST is ₹180.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.