54032000
ARTIFICIAL FILAMENT YARN (OTHER THAN SEWING THREAD), NOT PUT FOR RETAIL SALE, INCLUDING ARTIFICIAL MONO FILAMENT OF LESS THAN 67 DECITEX TEXTURED YARN :
Tax Calculator for 54032000
E-Way Bill Rules
For artificial filament yarn (other than sewing thread), not put for retail sale, including artificial mono filament of less than 67 decitex textured yarn :, 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 54032000 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 (5403) is sufficient for B2B invoices.
Ensure that you charge 9% CGST and 9% SGST for intra-state supplies of artificial filament yarn (other than sewing thread), not put for retail sale, including artificial mono filament of less than 67 decitex textured yarn :. For inter-state supplies, the full 18% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 54032000?
The GST rate for HSN Code 54032000 (ARTIFICIAL FILAMENT YARN (OTHER THAN SEWING THREAD), NOT PUT FOR RETAIL SALE, INCLUDING ARTIFICIAL MONO FILAMENT OF LESS THAN 67 DECITEX TEXTURED YARN :) is 18%.
Q: Is HSN 54032000 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 ARTIFICIAL FILAMENT YARN (OTHER THAN SEWING THREAD), NOT PUT FOR RETAIL SALE, INCLUDING ARTIFICIAL MONO FILAMENT OF LESS THAN 67 DECITEX TEXTURED YARN :?
Multiply the taxable value by 0.18. For ₹1000 value, GST is ₹180.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.