The Harmonised System of Nomenclature code, or HSN, contains 6-digit numbers used by global authorities to classify globally traded goods. The HTS, or the Harmonised Tariff Schedule code, on the other hand, is a 10-digit classification system used by some countries, such as ...
hsn code HSN code, or Harmonized System of Nomenclature, is an international coding system consisting of a 6-digit structure developed and maintained by the World Customs Organization. It is used by countries to classify goods and commodities imported and exported. The main purpose of HSN code ...
Instead of using HSC codes, services are classified using SAC codes when they’re imported. SAC codes are 6 digits long, which break down into a 2 digit service code, a further 2 digits showing the broad type of service, and a final 2 digits which gives a more detailed view of the sp...
If your business’s annual turnover was more than ₹5 crores in the previous year, select6-digit HSN Code or SAC. The 6-digit HSN Code or SAC is mandatory for all tax invoices. Scroll down and clickSave. You can now add HSN Codes or SACs to your items in Zoho Books. Once the ...
India uses an 8-digit HSN code1 instead of the typical 6-digit code; here’s how it is broken down: Chapter: The first two digits represent the chapter, broadly classifying goods into major categories. Heading: The next two digits represent the heading within the chapter, n...
The HSN Code is set in the below-given order: It has a 2-digit HSN number for each chapter. The 2-digit HSN code is sub-categorized into a 4-digit HSN code. The 4-digit HSN codes are further classified into the 6-digit HSN code. ...
With GST taking control most of the business owners will have to take up two to four or eight digits HSN codes for their goods and services depending on their turnover for a year. Dealers who have a turnover of Rs 1.5 crores up to 5 crores will have to use two digit HSN code. ...
HSN code only deals with goods underGST. for services there is another code known as SAC Code. Structure:The HSN code is typically a 6-digit code. The first two digits represent the chapter, the next two digits represent the heading, and the last two digits represent the subheading. For ...
Import and export dealings, as well as foreign trades, require the use of 8-digit HSN codes for entrepreneurial ventures. Services Accounting Code (SAC) in GST The SAC code is a concept similar to that of HSN. The SAC code is a similar concept to the HSN code. SAC stands for Service ...
Under the GST regime, the Service Accounting Code (SAC) functions as a unique identifier for various services, facilitating their classification and taxation. Each SAC is a six-digit code that systematically categorizes services, ensuring clarity and consistency in tax reporting. ...