HSN codes for GST in India All the states in the country have their own tax system for classifying the goods tax rate. But with GST regime there will be an uniformity all over the state which will harmonize the system of HSN for the goods and the service accounting code or SAC syste...
The Harmonized System of Nomenclature (HSN) is a standardised coding system used to classify goods for taxation purposes. In India, HSN codes typically have 8 digits. The first two digits represent the chapter number The next two digits represent the heading number ...
Understand what HSN codes are, their structure, and their significance in GST compliance. Learn how to identify and use HSN codes for your business.
HSN codes will eliminate any need to submit a detailed product description. The following is a list of a few of the GST service accounting codes. You can find the current GST Rate for service in Chapter 99 of the SAC Codes & GST Rates for Services....
The actual accounting codes have to be finalized by CGA in consultation with CAG on the basis of proposals from Tax Authorities. CGST, IGST and Additional Tax components will be accounted for under Consolidated Fund of India (CFI). Transfers of due IGST amount and Additional Tax to the States...
HSN code CHAPTER-10 Cereals The information provided below about HSN codes are used for GST purpose to classify goods. You may reconfirm with GST authorities whether your product HSN code is classified correctly below. The HSN codes under 02 digits, 04 digits, 06 digits and 08 digits explains...
The HSN Codes plays out in the below manner: Named as a 2-digit HSN number for each chapter. 2-digit each HSN number is then sub-categorized into a 4-digit HSN code. Further, such four-digit HSN codes are sub-classified into the six-digit HSN code. ...
How do I set an HSN code on my products? Does Shopify provide a GST-compliant bill? Do I need to register for GST? It depends. In general, GST registration is mandatory if your business meets any of the following conditions: Your turnover in a financial year exceeds Rs 20 lakhs (Rs ...
Dear Sir, We are the suppliers of Hydraulics, Pneumatics, Process control - Spares and systems, and general Order suppliers and also we are the contractors of Industrial Fabricators and Mastic Flooring/water proofing works. Please suggest the HSN codes and detail GST for the same. ...
Create Harmonized System of Nomenclature (HSN) and Services Accounting Code (SAC) codes. Create HSN and SAC codes for all goods and services. The GST rates that are applied depend on the HSN or SAC codes that are assigned to the goods or services. ...