Ensure that GST HSN code rates are included on invoices for all goods and services supplied, as this is a mandatory requirement for GST compliance. 7. Cross-Functional Collaboration Collaborate with departments such as finance, sales, and IT to ensure a coordinated effort in implementing HSN code...
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GST is the result of combining all central taxes, such as sales tax, excise duty, surcharges, cesses, state VAT, luxury tax, purchase tax, entertainment tax, and so on into a single tax. The Goods and Services Tax (GST) is a single tax, but given the sheer number of basic commodit...
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HSN code in GST invoices – what to remember It’s important to remember that the HSN number must be clearly mentioned on GST Invoices when preparing Tax Invoices for GST. Here’s how the different HSN classifications, from two digits to eight digits, come into play in India: ...
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