Under the GST regime, most dealers are required to adopt a two, four, or eight-digit HSN Code for trading in commodities, depending on the previous year’s turnover. Dealers having a turnover of less than 1.5 crore rupees in their previous year need not adopt the HSN code for their com...
The first two digits of HSN Code is designated to HSN Chapter These are arranged in order of a product’s degree of manufacture or in terms of its technological complexity. For Example : within Section X (Pulp of wood or of other fibrous cellulosic material; Recovered (waste and scrap) pap...
What challenges may businesses face in determining the applicable GST rate for aluminum structures? Businesses may face challenges in accurately classifying their aluminum structures and ensuring that they are using the correct HSN code. There may also be multiple HSN codes that apply to a particular...
Service Accounting Code, also known as SAC, is the code issued by the Central Board of Indirect Tax & Customs (Service Tax Department) to classify and identify the services offered. Each Service provided has a unique SAC code precisely like a unique HSN for different categories of products. P...
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