Under GST, all products and services have an associated HSN and SAC code for allocating the correct GST rate.Deskera Bookshas all these HSN and SAC codes inbuilt for goods and services, and will automatically apply the tax rates and cess, so you don't have to refer to an excel sheet eve...
Under GST law, the HSN code to be used by a taxpayer for classification of goods will be based on the taxpayer's turnover. The HSN code needs to be declared on the tax invoice and also to be reported while filing the GST returns. ...
HSN Code - 4901 Printed brochures, books, and similar printed matter, whether or not in single sheets (excl. periodicals or publications which are essentially devoted to advertising) HS Code Description GST % 49019900 Products Include: Asian Paints, Air Ticket, Annual Report Printing, Asian Pai...
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...
Under the GST regime, the Harmonized System of Nomenclature (HSN) code serves as a unique identifier for over 5,000 commodity groups, efficiently categorizing goods in a systematic manner. For example, the HSN code for cast iron pipes is7303.0010. This code can be broken down as follows: ...
All goods and services transacted in India under GST are classified under the HSN code system or SAC Code system. Where services are classified under the SAC Code and goods are classified under theHSN Code. Services Accounting Code also called as SAC Code is a classification system for services...
Change 3: E-invoicing is developed important for the assessee who has the turnover of Rs 50 cr and will come into force from 1/04/2021. Moreover, the team will engage the turnover of all the GST numbers beneath the single PAN (Permanent Account Number) . Change 4: The QR Code is...