57050024
COTTON DURRIES OF HANDLOOM (INCLUDING CHINDI DURRIES, COTTON CHENILLE DURRIES, RAG RUG DURRIE, PRINTED DURRIES, DRUGGETS)
Tax Calculator for 57050024
E-Way Bill Rules
For cotton durries of handloom (including chindi durries, cotton chenille durries, rag rug durrie, printed durries, druggets), the E-Way Bill threshold is ₹50,000. Since the rate is 12%, you must generate a bill if the Taxable Value exceeds ₹44,642.
Example Calculation
- Base Value: ₹44,642
- + GST (12%): ₹5,357.04
- 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 57050024 falls under Chapter 57. 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 (5705) is sufficient for B2B invoices.
Ensure that you charge 6% CGST and 6% SGST for intra-state supplies of cotton durries of handloom (including chindi durries, cotton chenille durries, rag rug durrie, printed durries, druggets). For inter-state supplies, the full 12% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 57050024?
The GST rate for HSN Code 57050024 (COTTON DURRIES OF HANDLOOM (INCLUDING CHINDI DURRIES, COTTON CHENILLE DURRIES, RAG RUG DURRIE, PRINTED DURRIES, DRUGGETS)) is 12%.
Q: Is HSN 57050024 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 COTTON DURRIES OF HANDLOOM (INCLUDING CHINDI DURRIES, COTTON CHENILLE DURRIES, RAG RUG DURRIE, PRINTED DURRIES, DRUGGETS)?
Multiply the taxable value by 0.12. For ₹1000 value, GST is ₹120.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.