For example, SAC code 997212 covers rental or leasing services involving owned or leased non-residential property. Breaking it down: The initial “99” refers to services. The “72” represents the primary category, which is leasing or rental services. The “12” specifies the service as rental...
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For imports or exports, it is mandatory to have an eight-digit HSN Code, irrespective of the turnover as the GST HSN Code must be compatible with applicable international practices and standards. Related Read:How to Register for GST Online: A Guide to GST Registration Process ...
HSN code is used by countries across the globe when trading goods and services. Each item is assigned a six-digit code in order to accurately identify the goods being traded and for quick and easy comparison. For example, computer parts are classified under HSN 8473. It allows for easier tr...
- Click the Download button and follow the steps for saving the package on your computer.- Save all work in progress and close open applications.- Note for .ZIP archives: Extract the file and enter the newly-created directory.- Locate and run the available setup file.- Al...
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This structured framework not only aids in the accurate classification of services for tax purposes but also helps businesses comply with GST regulations effectively. The Importance of the HSN Code Systematic Identification The HSN code provides a structured way to identify and group goods based on ch...