Understand HSN codes under GST with Tally Solutions. Learn their significance, structure, and use our HSN code finder for quick lookups. Explore now!
This GST HSN code system serves two key purposes:: Streamlined Taxation: The HSN code helps identify the specific product category, which directly determines the applicable GST rate. This simplifies tax calculation and administration for businesses.. International Trade: The HSN code acts as a univer...
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 ...
All the goods and services to be used inIndia GSTare classified by an HSN code (Harmonized System of Nomenclature) and by the SAC (Service Accounting Codes) and will help to remove the hurdle/obstacle in the international trade. In addition, these HSN and SAC codes have been used in invoi...