HSN Code 51071040: Wool carpet yarn ≥ 85% wool

HSN Code 51071040 represents Wool carpet yarn ≥ 85% wool under GST classification. This code helps businesses identify Wool carpet yarn ≥ 85% wool correctly for billing, taxation, and trade. With HSN Code 51071040, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Wool carpet yarn ≥ 85% wool.

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Description of Goods for HSN Code 51071040

HSN Code 51071040 relates to the following description.

Description of Goods

CONTAINING 85% OR MORE BY WEIGHT OF WOOL : Woollen carpet yarn

Chapter

51 - Wool, fine or coarse animal hair; horsehair yarn and woven fabric

Sub Chapter

5107 - Yarn of combed wool, not put up for retail sale

CGST

2.5%

SGST

2.5%

IGST

5%

CESS

0%

What does HSN Code 51071040 not include?

Wool carpet yarn ≥ 85% wool does not include products with the following descriptions.

India’s Trade Performance — HSN Code 51071040 in FY 2024-25

TradeStat EIDB — Ministry of Commerce & Industry FY 2018-19–FY 2024-25 Values in ₹ Crore

India’s Exports

FY 2024-25

₹3 Cr

+27.00% vs FY 2023-24

0.0001% of India’s total exports

India’s Imports

FY 2024-25

< ₹1 Crore

−61.08% vs FY 2023-24

0.0000% of India’s total imports

Trade Balance

FY 2024-25

₹3 Cr

Trade Surplus

Surplus rank #4119 of 12657 HSN codes

% of Sub-Chapter 5107

FY 2024-25

0.49%

Share of Sub-Chapter 5107’s total exports in FY 2024-25

Import side: 3.46% of Sub-Chapter 5107’s imports

Rank Within Sub-Chapter 5107

FY 2024-25

#9 of 10

Position by export value among HSN codes in Sub-Chapter 5107

Import-side rank: #5 of 10

At a glance

9.57%

Export CAGR

FY 2018-19 → FY 2024-25 · 7 fiscal years

#7082

National Export Rank

of 12657 HSN codes by export value, FY 2024-25

+126.83%

Peak Growth Year

FY 2021-22 · strongest single-year move

0.49%

Contribution to Sub-Ch. 5107

Share of Sub-Chapter 5107 exports in FY 2024-25

India Export-Import Trade Statistics for HSN Code 51071040

7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.

FY 2018-19 Exp. Rank #6985

Balance

+0.44

Exports

1.93 ₹ Cr

0.0001% share

— YoY

0.23% of Sub-Ch. 5107

Imports

1.49 ₹ Cr

0.0000% share

— YoY

7.25% of Sub-Ch. 5107

FY 2019-20 Exp. Rank #7406

Balance

−0.27

Exports

1.22 ₹ Cr

0.0001% share

−36.79% YoY

0.18% of Sub-Ch. 5107

Imports

1.49 ₹ Cr

0.0000% share

0.00% YoY

5.27% of Sub-Ch. 5107

FY 2020-21 Exp. Rank #7830

Balance

−1.44

Exports

< ₹1 Crore ₹ Cr

0.0000% share

−32.79% YoY

0.20% of Sub-Ch. 5107

Imports

2.26 ₹ Cr

0.0001% share

+51.68% YoY

8.83% of Sub-Ch. 5107

FY 2021-22 Exp. Rank #7405

Balance

−0.15

Exports

1.86 ₹ Cr

0.0001% share

+126.83% YoY

0.33% of Sub-Ch. 5107

Imports

2.01 ₹ Cr

0.0000% share

−11.06% YoY

6.38% of Sub-Ch. 5107

FY 2022-23 Exp. Rank #6933

Balance

+0.20

Exports

3.20 ₹ Cr

0.0001% share

+72.04% YoY

0.36% of Sub-Ch. 5107

Imports

3.00 ₹ Cr

0.0001% share

+49.25% YoY

7.68% of Sub-Ch. 5107

FY 2023-24 Exp. Rank #7279

Balance

+0.60

Exports

2.63 ₹ Cr

0.0001% share

−17.81% YoY

0.28% of Sub-Ch. 5107

Imports

2.03 ₹ Cr

0.0000% share

−32.33% YoY

6.72% of Sub-Ch. 5107

FY 2024-25 Exp. Rank #7082

Balance

+2.55

Exports

3.34 ₹ Cr

0.0001% share

+27.00% YoY

0.49% of Sub-Ch. 5107

Imports

< ₹1 Crore ₹ Cr

0.0000% share

−61.08% YoY

3.46% of Sub-Ch. 5107

CAGR · 7-Year

Exports

9.57% /yr

Imports

−10.04% /yr

Consistently Surplus
Sub-Chapter 5107 total

reference, FY 2024-25

Export

₹681.50 Cr

Import

₹22.82 Cr

Trade Balance

+658.68

Peak export growth year Latest available data Not available YoY = change vs previous FY

Key Trade Insights: HSN Code 51071040 Export-Import Analysis

Consistent Export Growth: 9.57% CAGR Over 7 Years

India's exports under HSN Code 51071040 have grown at a compound annual rate of 9.57% over 7 fiscal years, rising from ₹1.93 Crore in FY 2018-19 to ₹3.34 Crore in FY 2024-25.

HSN Code 51071040 Ranked #7082 Among All 12657 HSN codes by Export Value

In FY 2024-25, HSN Code 51071040 ranks #7082 out of 12657 HSN codes by total export value. Within Sub-Chapter 5107, it ranks #9 of 10. By trade surplus, it ranks #4119 of 12657.

FY 2021-22 Was the Strongest Growth Year for HSN Code 51071040 Exports

The strongest single-year export movement for HSN Code 51071040 was recorded in FY 2021-22, when exports surged by 126.83% over the prior year.

India Maintains a Trade Surplus of ₹2.55 Crore in HSN Code 51071040 Goods

In FY 2024-25, India's exports of ₹3.34 Cr exceeded imports of ₹0.79 Cr, resulting in a trade surplus of ₹2.55 Crore — ranking #4119 of 12657 by surplus magnitude.

Import Growth of −10.04% CAGR Signals Stable Import Dependency for Wool carpet yarn ≥ 85% wool

India's imports under HSN Code 51071040 have grown at −10.04% CAGR, reaching ₹0.79 Crore in FY 2024-25.

HSN Code 51071040 Contributes 0.49% of Sub-Chapter 5107 Exports — Ranked #9

Among the 10 HSN codes under Sub-Chapter 5107, HSN Code 51071040 ranks #9 by export value — accounting for 0.49% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 3.46% share (rank #5).

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Frequently Asked Questions

Clear answers to common queries about HSN Code 51071040 and GST compliance.

What products are classified under HSN 51071040 ?

It includes Worsted hosiery yarn, <85% wool

Can we claim ITC on inputs used to trade Wool carpet yarn ≥ 85% wool?

If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42.

Any common misclassification issue with Wool carpet yarn ≥ 85% wool?

Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.

Do e‑way bill and e‑invoice apply for Wool carpet yarn ≥ 85% wool?

e‑Way bill is needed above ₹50,000 consignment value (subject to exemptions). e‑Invoicing is turnover‑based (presently AATO > ₹5 crore) for B2B supplies.

How much GST applies to Wool carpet yarn ≥ 85% wool?

Under HSN 51071040, Wool carpet yarn ≥ 85% wool attracts Varies when sold in taxable form. Describe the exact form on the invoice.

How should mixed supplies be billed when Wool carpet yarn ≥ 85% wool is sold with other items?

Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Wool carpet yarn ≥ 85% wool; Nil for exempt items if applicable).

Important Disclaimer

The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.