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HSN Code - 55041000 : VISCOSE RAYON STAPLE FIBRES NT CRD/COMBD (VISCOSE RAYON STAPLE FIBRES NT CRD/COMBD)

Policy: Free
HSN CODE Description Policy
5504ARTIFICIAL STAPLE FIBRES, NOT CARDED, COMBED OR OTHERWISE PROCESSED FOR SPINNING
550410
55041000VISCOSE RAYON STAPLE FIBRES NT CRD/COMBDFree

Harmonised System of Nomenclature (HSN Codes) 55041000 are used for the VISCOSE RAYON STAPLE FIBRES NT CRD/COMBD products under Goods and Service Tax classification.

India was originally using 6 digit HSN codes to classify commodities but later two more digits were added to make the codes more precise, resulting in an 8 digit classification.

Understanding HSN Code 55041000

First two digits (55) represent the chapter number which is Chapter 55 - Man-made staple fibres.

Next two digits (04) represent the heading number which is ARTIFICIAL STAPLE FIBRES, NOT CARDED, COMBED OR OTHERWISE PROCESSED FOR SPINNING

Next two digits (10) represent the product code which is

Last two digits (00) are for final or deeper classification which is VISCOSE RAYON STAPLE FIBRES NT CRD/COMBD

All 8 digits of HSN code is mandatory for export & imports for tax invoice of GST.

FAQs on HSN Code 55041000

What is HSN Code 55041000 used for?

HSN Code 55041000 is used to classify goods under GST for invoicing, taxation, import, and export. Businesses use this code to correctly identify products while filing GST returns and trade documents.

Is HSN Code 55041000 mandatory for GST invoices?

Yes. HSN codes are mandatory on GST invoices for most businesses, especially for B2B transactions, exports, and imports. The level of digits required depends on turnover and transaction type.

What is the GST rate for HSN Code 55041000?

The GST rate for HSN Code 55041000 depends on the product specification and the latest GST notifications. Businesses should verify the applicable rate from CBIC notifications or consult a tax professional before invoicing.

What is the import or export policy for HSN Code 55041000?

As per current trade policy, HSN Code 55041000 falls under "Free" category. Import or export may be subject to specific conditions or approvals.

What is the difference between HSN Code and SAC Code?

HSN codes are used for goods or products, while SAC codes are used for services. Businesses dealing in both goods and services must use the correct code type for GST compliance.