HSN Code 55051010: Of Synthetic Fibers | Of Acrylic
HSN Code 55051010 represents Of Synthetic Fibers | Of Acrylic under GST classification. This code helps businesses identify Of Synthetic Fibers | Of Acrylic correctly for billing, taxation, and trade. With HSN Code 55051010, companies can avoid errors in invoices, simplify compliance, and enable hassle-free import or export of Of Synthetic Fibers | Of Acrylic.
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Description of Goods for HSN Code 55051010
HSN Code 55051010 relates to the following description.
What does HSN Code 55051010 not include?
Of Synthetic Fibers | Of Acrylic does not include products with the following descriptions.
Of synthetic fibers : Other
Of artificial fibres
India’s Trade Performance — HSN Code 55051010 in FY 2024-25
India’s Exports
FY 2024-25₹5 Cr
0.0001% of India’s total exports
India’s Imports
FY 2024-25₹38 Cr
0.0006% of India’s total imports
Trade Balance
FY 2024-25−₹33 Cr
Surplus rank #9921 of 12657 HSN codes
% of Sub-Chapter 5505
FY 2024-256.76%
Share of Sub-Chapter 5505’s total exports in FY 2024-25
Import side: 48.45% of Sub-Chapter 5505’s imports
Rank Within Sub-Chapter 5505
FY 2024-25#2 of 3
Position by export value among HSN codes in Sub-Chapter 5505
Import-side rank: #1 of 3
At a glance
73.77%
Export CAGR
FY 2018-19 → FY 2024-25 · 7 fiscal years
#6700
National Export Rank
of 12657 HSN codes by export value, FY 2024-25
+1,764.71%
Peak Growth Year
FY 2019-20 · strongest single-year move
6.76%
Contribution to Sub-Ch. 5505
Share of Sub-Chapter 5505 exports in FY 2024-25
India Export-Import Trade Statistics for HSN Code 55051010
7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB.
Balance
−86.93
Exports
< ₹1 Crore ₹ Cr
0.0000% share
— YoY
1.06% of Sub-Ch. 5505
Imports
87.10 ₹ Cr
0.0024% share
— YoY
48.65% of Sub-Ch. 5505
Balance
−26.72
Exports
3.17 ₹ Cr
0.0001% share
+1,764.71% YoY
20.58% of Sub-Ch. 5505
Imports
29.89 ₹ Cr
0.0009% share
−65.68% YoY
48.48% of Sub-Ch. 5505
Balance
−6.24
Exports
< ₹1 Crore ₹ Cr
0.0000% share
−92.11% YoY
3.74% of Sub-Ch. 5505
Imports
6.49 ₹ Cr
0.0002% share
−78.29% YoY
18.68% of Sub-Ch. 5505
Balance
−38.41
Exports
< ₹1 Crore ₹ Cr
0.0000% share
+32.00% YoY
1.60% of Sub-Ch. 5505
Imports
38.74 ₹ Cr
0.0008% share
+496.92% YoY
53.25% of Sub-Ch. 5505
Balance
−64.34
Exports
< ₹1 Crore ₹ Cr
0.0000% share
+157.58% YoY
1.23% of Sub-Ch. 5505
Imports
65.19 ₹ Cr
0.0011% share
+68.28% YoY
59.75% of Sub-Ch. 5505
Balance
−32.95
Exports
< ₹1 Crore ₹ Cr
0.0000% share
0.00% YoY
1.23% of Sub-Ch. 5505
Imports
33.80 ₹ Cr
0.0006% share
−48.15% YoY
45.13% of Sub-Ch. 5505
Balance
−32.84
Exports
4.68 ₹ Cr
0.0001% share
+450.59% YoY
6.76% of Sub-Ch. 5505
Imports
37.52 ₹ Cr
0.0006% share
+11.01% YoY
48.45% of Sub-Ch. 5505
CAGR · 7-Year
Exports
73.77% /yr
Imports
−13.10% /yr
Key Trade Insights: HSN Code 55051010 Export-Import Analysis
Consistent Export Growth: 73.77% CAGR Over 7 Years
India's exports under HSN Code 55051010 have grown at a compound annual rate of 73.77% over 7 fiscal years, rising from ₹0.17 Crore in FY 2018-19 to ₹4.68 Crore in FY 2024-25.
HSN Code 55051010 Ranked #6700 Among All 12657 HSN codes by Export Value
In FY 2024-25, HSN Code 55051010 ranks #6700 out of 12657 HSN codes by total export value. Within Sub-Chapter 5505, it ranks #2 of 3. By trade surplus, it ranks #9921 of 12657.
FY 2019-20 Was the Strongest Growth Year for HSN Code 55051010 Exports
The strongest single-year export movement for HSN Code 55051010 was recorded in FY 2019-20, when exports surged by 1,764.71% over the prior year.
India Records a Trade Deficit of ₹32.84 Crore in HSN Code 55051010 Goods
In FY 2024-25, India's imports of ₹37.52 Cr exceeded exports of ₹4.68 Cr, resulting in a trade deficit of ₹32.84 Crore — ranking #9921 of 12657 by surplus magnitude.
Import Growth of −13.10% CAGR Signals Stable Import Dependency for Of Synthetic Fibers | Of Acrylic
India's imports under HSN Code 55051010 have grown at −13.10% CAGR, reaching ₹37.52 Crore in FY 2024-25.
HSN Code 55051010 Contributes 6.76% of Sub-Chapter 5505 Exports — Ranked #2
Among the 3 HSN codes under Sub-Chapter 5505, HSN Code 55051010 ranks #2 by export value — accounting for 6.76% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 48.45% share (rank #1).
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Frequently Asked Questions
Clear answers to common queries about HSN Code 55051010 and GST compliance.
What products are classified under HSN 55051010 ?
It includes Of Artificial Fibres
How much GST applies to Of Synthetic Fibers / Of Acrylic?
Under HSN 55051010, Of Synthetic Fibers / Of Acrylic attracts Varies when sold in taxable form. Describe the exact form on the invoice.
Does packaging or labelling change the GST for Of Synthetic Fibers / Of Acrylic?
For food/agri items, GST can be 5% when not fresh/chilled and sold as pre‑packaged & labelled; otherwise often Nil. For non‑food items, rates depend on the specific sub‑heading.
Do e‑way bill and e‑invoice apply for Of Synthetic Fibers / Of Acrylic?
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.
Can we claim ITC on inputs used to trade Of Synthetic Fibers / Of Acrylic?
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 Of Synthetic Fibers / Of Acrylic?
Use the exact HSN and describe the form/grade. For multi‑line invoices, apply the rate per line to avoid wrong tax collection.
How should mixed supplies be billed when Of Synthetic Fibers / Of Acrylic is sold with other items?
Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Of Synthetic Fibers / Of Acrylic; Nil for exempt items if applicable).