540710
WOVEN FABRICS OBTAINED FROM HIGH TENACITY YARN OF NYLON OR OTHER POLYAMIDES OR OF POLYESTERS :
Tax Calculator for 540710
E-Way Bill Rules
For woven fabrics obtained from high tenacity yarn of nylon or other polyamides or of polyesters :, 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 540710 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 (5407) is sufficient for B2B invoices.
Ensure that you charge 2.5% CGST and 2.5% SGST for intra-state supplies of woven fabrics obtained from high tenacity yarn of nylon or other polyamides or of polyesters :. For inter-state supplies, the full 5% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 540710?
The GST rate for HSN Code 540710 (WOVEN FABRICS OBTAINED FROM HIGH TENACITY YARN OF NYLON OR OTHER POLYAMIDES OR OF POLYESTERS :) is 5%.
Q: Is HSN 540710 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 WOVEN FABRICS OBTAINED FROM HIGH TENACITY YARN OF NYLON OR OTHER POLYAMIDES OR OF POLYESTERS :?
Multiply the taxable value by 0.05. For ₹1000 value, GST is ₹50.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.