Turnover between ₹1.5 crore and ₹5 crore: Mandatory use of 2-digit HSN codes. Turnover over ₹5 crore: Requirement to use 4-digit HSN codes. Importers and exporters: Must use 8-digit HSN codes. Global Standardization HSN codes play a crucial role in standardizing GST rates globally...
GST code (GST identification number) Every tax payer will be assigned a state-wise PAN based GST tax payer identification number (GSTIN) which will be 15 digit long. The first two digits of GSTIN will represent the state code according to Indian Census of 2011. Each state has a uniqu...
Customs and Central Excise eventually added two extra digits to the HSN codes to make them more accurate, resulting in an 8-digit categorisation. HSN codes are primarily used by distributors, vendors, suppliers, merchants, and traders. They must either use two-digit, four-digit, or eight-...
Companies need the HSN code for GST registration, making invoices, and providing an HSN summary when filing GST returns. This is crucial, especially for businesses importing and exporting with India. All such businesses must use an ITC-HS code, an 8-digit HSN code. To find an H...
In India, the HSN Code is an extended 8-digit system for classifying goods under the GST regime. It builds upon the global 6-digit HSN code by adding two more digits for further product categorization. This GST HSN code system serves two key purposes:: ...
Understand what HSN codes are, their structure, and their significance in GST compliance. Learn how to identify and use HSN codes for your business.
[Updated 2024] All you need to know about HSN Codes. HSN, which stands for 'Harmonized System Nomenclature' was developed by the WCO in 1988. Find out more about this 8 digit code, how it can be found, examples and how HSN works with GST invoices in our
Further, such four-digit HSN codes are sub-classified into the six-digit HSN code. Example of an HSN code - schematic Structure of SAC Code Breaking up the 6 digit SAC in GST For example, the SAC for Information technology (IT) design and development services is 998314. ...
Find your product's HSN Code and GST Rate using our HSN Code Finder with which you can search by product name or code, and you can also use the category list to identify your HS Code.
Q: Where should the HSN/SAC code be mentioned? Ans: When you register for GST, on your invoices, and on your GST returns that you need to post on the GST Portal, you must include these codes. Disclaimer : The information, product and services provided on this website are provided on ...