HSN codes are primarily used by distributors, vendors, suppliers, merchants, and traders. They must either use two-digit, four-digit, or eight-digit HSN codes based on the following parameters. If the company's annual revenue is less than Rs. 1.5 crores, there is no need to use HSN code...
What is the HSN SAC Code of the Worker who Builds or Fabricate the Body in Tipper or Buses and what is it s GST Tax Rate - GST
Under GST, all goods and services transacted in India are classified under the HSN code system or SAC Code system. Goods are classified under HSN Code and services are classified under SAC Code. Based on the HSN or SAC code, GST rates have been fixed in five slabs, namely NIL, 5%, 12...
A3: While the general GST rate for HSN code 7214 is 18%, certain products within this category may qualify for lower rates or exemptions based on government notifications. It is essential to refer to the specific GST notifications to determine the applicable rate for a particular product. Q4:...
“The HSN code (Harmonized System of Nomenclature) is provided for each product/service by GST Council to specify the rate at which GST would be applicable. The suppliers have to quote theHSN Code of the productto be supplied by them in the tender document, itself. The mentioning of the ...
GST RATE ON SAC CODE - 998818 IS 18% Services Accounting Codes (SAC Codes) 998818 is used for the Beverage manufacturing services under the Goods and Service Tax classification. Therefore, the HSN code for job work will be a Service Accounting Code(SAC). Here are some of the services fall...
Watch Video on Validate HSN or SAC Information Using TallyPrime Watch Video on How to Update HSN Code for Stock Items in TallyPrime Read More on GST Rates & Charges GST Rates,GST Rate Finder,GST Rate on Labour Charges,SAC Codes,GST State Codes ...
1. What is HSN Code in GST? The HSN Code (Harmonized System of Nomenclature) in GST is an 8-digit code that classifies goods. It helps identify products for applying the correct GST rate and simplifies international trade. 2. How to add the HSN code in the GST portal?
No GST on sale of Grain sorghum? GST is not payable on Buckwheat, millet and canary seed; other cereals such as Jawar, Bajra, Ragi] Nil rate of GST on Flour Aata, maida, besan etc. [other than those put up in unit container and bearing a registered brand name] is nil rate ...
Simplified Tax Structure: The uniform 18% GST rate across India under HSN code 8517 replaced the complex VAT system, reducing compliance burdens and operational complexities. Input Tax Credit (ITC): Dealers can claim ITC on inputs like rent, electricity, and transportation, improving cash flow. ...