GST Rate & HSN Code 500720 – OTHER FABRICS

The HSN code for OTHER FABRICS, CONTAINING 85% OR MORE BY WEIGHT OF SILK OR OF SILK WASTE OTHER THAN NOIL SILK : is 500720. This code falls under Chapter 50 of the GST HSN classification system, which covers OTHER FABRICS, CONTAINING 85% OR MORE BY WEIGHT OF SILK OR OF SILK WASTE OTHER THAN NOIL SILK :. It is used for accurate product classification during GST invoicing, return filing, and tax compliance.

HSN code 500720 falls under Chapter 50 of the GST HSN classification, which covers OTHER FABRICS, CONTAINING 85% OR MORE BY WEIGHT OF SILK OR OF SILK WASTE OTHER THAN NOIL SILK :. Chapter 50 groups all related products together to standardize GST rates and simplify tax classification for businesses dealing with OTHER FABRICS, CONTAINING 85% OR MORE BY WEIGHT OF SILK OR OF SILK WASTE OTHER THAN NOIL SILK :.

Yes, registered businesses can generally claim Input Tax Credit (ITC) on GST paid for OTHER FABRICS, CONTAINING 85% OR MORE BY WEIGHT OF SILK OR OF SILK WASTE OTHER THAN NOIL SILK : under HSN code 500720, provided it is used for business purposes, and all ITC conditions under the GST Act are met. Consult a RegisterKaro expert for clarification.

Yes, mentioning HSN code 500720 on your GST invoice for OTHER FABRICS, CONTAINING 85% OR MORE BY WEIGHT OF SILK OR OF SILK WASTE OTHER THAN NOIL SILK : is mandatory. The number of digits required (4, 6, or 8) depends on your annual turnover as per CBIC rules. Correct HSN mention ensures accurate tax calculation and smooth return filing.