--- title: "HSN Code for Of man-made fibres : Of artificial fibres | HSN 61023020 GST Rate" description: "Find HSN and GST Rates for 61023020 related to Of man-made fibres : Of artificial fibres with BUSY Accounting - The reliable source for HSN and GST details in India." canonical: "https://busy.in/hsn/hsn-61023020/" --- # HSN Code 61023020: Of man-made fibres : Of artificial fibres - [Section 11: Guide to HSN Section 11](https://busy.in/hsn/section-11/) - [Chapter 61: Knitted Apparel & Clothing Accessories](https://busy.in/hsn/chapter-61/) - [Sub-chapter 6102: Knitted/coated women’s overcoats](https://busy.in/hsn/sub-chapter-6102/) ## GST rates | Description | CGST | SGST | IGST | CESS | | --- | --- | --- | --- | --- | | Of man-made fibres : Of artificial fibres (sale value not exceeding Rs. 1000 per piece) | 2.5% | 2.5% | 5% | 0% | | Of man-made fibres : Of artificial fibres | 6% | 6% | 12% | 0% | ## Frequently asked questions ### What products are classified under HSN 61023020 ? It includes Suits : Of silk ### How should mixed supplies be billed when Of man-made fibres : Of artificial fibres is sold with other items? Use separate invoice lines per HSN and apply the correct rate per line (e.g., Varies for Of man-made fibres : Of artificial fibres; Nil for exempt items if applicable). ### Can we claim ITC on inputs used to trade Of man-made fibres : Of artificial fibres? If your outward supply is taxable, eligible ITC is available subject to general restrictions. For exempt/Nil supplies, reverse credit per Rule 42. ### How much GST applies to Of man-made fibres : Of artificial fibres? Under HSN 61023020, Of man-made fibres : Of artificial fibres attracts Varies when sold in taxable form. Describe the exact form on the invoice. ### Does packaging or labelling change the GST for Of man-made fibres : Of artificial fibres? 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 man-made fibres : Of artificial fibres? 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. ## India's trade performance: HSN Code 61023020 (FY 2024-25) Source: TradeStat EIDB, Ministry of Commerce & Industry. Values in ₹ Crore (FY 2018-19 to FY 2024-25). - Exports: ₹2 Cr (+6.84% YoY) — 0.0001% of India's total exports - Imports: ₹3 Cr (+9.93% YoY) — 0.0001% of India's total imports - Trade balance: −₹1 Cr (Deficit); surplus rank #7976 of 12657 HSN codes - Share of Sub-Chapter 6102: 2.44% of its exports; import side 3.73% - Rank within Sub-Chapter 6102: #4 of 6 by export value; import-side #4 ### Key metrics - Export CAGR: 17.03% (FY 2018-19 to FY 2024-25, 7 fiscal years) - National export rank: #7588 of 12657 HSN codes by export value (FY 2024-25) - Peak growth year: +300.00% in FY 2020-21 - Contribution to Sub-Ch. 6102: 2.44% of its exports (FY 2024-25) ## India export-import trade statistics: HSN Code 61023020 7-year export and import data, FY 2018-19 to FY 2024-25, in ₹ Crore. Source: Ministry of Commerce & Industry, TradeStat EIDB. | FY | Exports (₹ Cr) | Exp share | Exp YoY | Exp % of Sub-Ch. 6102 | Imports (₹ Cr) | Imp share | Imp YoY | Imp % of Sub-Ch. 6102 | Trade balance | Exp rank | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | FY 2018-19 | < ₹1 Crore | 0.0000% | — | 1.89% | 1.06 | 0.0000% | — | 5.05% | −0.27 | #7825 | | FY 2019-20 | < ₹1 Crore | 0.0000% | −67.09% | 0.55% | 1.45 | 0.0000% | +36.79% | 4.16% | −1.19 | #8661 | | FY 2020-21 | 1.04 | 0.0000% | +300.00% | 1.64% | 1.28 | 0.0000% | −11.72% | 3.55% | −0.24 | #7635 | | FY 2021-22 | 1.65 | 0.0001% | +58.65% | 2.89% | 1.23 | 0.0000% | −3.91% | 2.55% | +0.42 | #7518 | | FY 2022-23 | 2.47 | 0.0001% | +49.70% | 2.87% | 1.52 | 0.0000% | +23.58% | 2.27% | +0.95 | #7203 | | FY 2023-24 | 1.90 | 0.0001% | −23.08% | 3.65% | 2.92 | 0.0001% | +92.11% | 4.44% | −1.02 | #7630 | | FY 2024-25 | 2.03 | 0.0001% | +6.84% | 2.44% | 3.21 | 0.0001% | +9.93% | 3.73% | −1.18 | #7588 | - CAGR (7-year): exports 17.03%/yr, imports 20.28%/yr (consistently Deficit) ## Key trade insights: HSN Code 61023020 export-import analysis ### Consistent export growth: 17.03% CAGR over 7 years India's exports under HSN Code 61023020 have grown at a compound annual rate of 17.03% over 7 fiscal years, rising from ₹0.79 Crore in FY 2018-19 to ₹2.03 Crore in FY 2024-25. ### HSN Code 61023020 ranked #7588 among all 12657 HSN codes by export value In FY 2024-25, HSN Code 61023020 ranks #7588 out of 12657 HSN codes by total export value. Within Sub-Chapter 6102, it ranks #4 of 6. By trade surplus, it ranks #7976 of 12657. ### FY 2020-21 was the strongest growth year for HSN Code 61023020 exports The strongest single-year export movement for HSN Code 61023020 was recorded in FY 2020-21, when exports surged by 300.00% over the prior year. ### India records a trade deficit of ₹1.18 Crore in HSN Code 61023020 goods In FY 2024-25, India's imports of ₹3.21 Cr exceeded exports of ₹2.03 Cr, resulting in a trade deficit of ₹1.18 Crore — ranking #7976 of 12657 by surplus magnitude. ### Import growth of 20.28% CAGR signals rising demand for Of man-made fibres : Of artificial fibres India's imports under HSN Code 61023020 have grown at 20.28% CAGR, reaching ₹3.21 Crore in FY 2024-25. ### HSN Code 61023020 contributes 2.44% of Sub-Chapter 6102 exports — ranked #4 Among the 6 HSN codes under Sub-Chapter 6102, HSN Code 61023020 ranks #4 by export value — accounting for 2.44% of the sub-chapter's total exports in FY 2024-25. On the import side, it holds 3.73% share (rank #4). ## Related HSN Codes in Sub-Chapter 6102 Ranked by export value (FY 2024-25). | Rank | HSN Code | Exports (FY 2024-25) | | --- | --- | --- | | #1 | [HSN Code 61022000: Women’s or girls’ overcoats: Of Cotton](https://busy.in/hsn/hsn-61022000/) | ₹45 Cr | | #2 | [HSN Code 61029090: Synthetic Fiber Textile Fabrics](https://busy.in/hsn/hsn-61029090/) | ₹20 Cr | | #3 | [HSN Code 61023010: Of Man-Made Fibres \| Of Synthetic Fibres](https://busy.in/hsn/hsn-61023010/) | ₹16 Cr | | #4 | HSN Code 61023020: Of man-made fibres : Of artificial fibres (this hsn code) | ₹2 Cr | | #5 | [HSN Code 61021000: Of wool or fine animal hair](https://busy.in/hsn/hsn-61021000/) | < ₹1 Crore | | — | [HSN Code 61029010: Other \| Of Silk](https://busy.in/hsn/hsn-61029010/) | Nil |