5408
WOVEN FABRICS OF ARTIFICIAL FILAMENT YARN,INCLUDING WOVEN FABRICS OBTAINED FROM MATERIALS OF HEADING 5405
Tax Calculator for 5408
E-Way Bill Rules
For woven fabrics of artificial filament yarn,including woven fabrics obtained from materials of heading 5405, 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 5408 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 (5408) is sufficient for B2B invoices.
Ensure that you charge 2.5% CGST and 2.5% SGST for intra-state supplies of woven fabrics of artificial filament yarn,including woven fabrics obtained from materials of heading 5405. For inter-state supplies, the full 5% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 5408?
The GST rate for HSN Code 5408 (WOVEN FABRICS OF ARTIFICIAL FILAMENT YARN,INCLUDING WOVEN FABRICS OBTAINED FROM MATERIALS OF HEADING 5405) is 5%.
Q: Is HSN 5408 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 OF ARTIFICIAL FILAMENT YARN,INCLUDING WOVEN FABRICS OBTAINED FROM MATERIALS OF HEADING 5405?
Multiply the taxable value by 0.05. For ₹1000 value, GST is ₹50.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.