23 August 2017
My friend having cotton packages business.. He supplies cotton packages to other businesses.. His turnover is less than 6 laks.. Whether he may opt for composition scheme or not?
Which HSN CODE Is applicable for his business??
24 August 2017
The product description is not very clear. What exactly do you mean by Cotton Packages. If you can be more descriptive or share a link to what you are referring to, it may be helpful in arriving at a conclusion. HSN Codes 5201 - 5203 deals with Cotton & Cotton Waste and is taxable at 5% HSN Code 5601 deals with Wadding of textile materials and articles thereof; such as Absorbent cotton wool and is taxable at 12%
In case of composition these rates will not apply.
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