Understand HSN codes under GST with Tally Solutions. Learn their significance, structure, and use our HSN code finder for quick lookups. Explore now!
All goods and services exchanged in India are categorised as part of the SAC code system or the HSN code system under GST. Goods are categorised using the HSN Code, while services are categorised using the SAC Code. GST rates have been set in five classes called slabs which are predicated...
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...
Implementation in India:In India, HSN codes are used under the Goods and Services Tax (GST) regime. Businesses must use HSN codes when filing GST returns, ensuring proper classification and taxation of goods. The number of digits required (4, 6, or 8) depends on the business’s turnover....
SAC Code is a classification system for services developed by the Service Tax Department of India. Let's check SAC codes for various transportation services under GST
What is SAC Code? SAC stands for Service Accounting Code, a unique six-digit code used to classify services under the GST regime in India. SAC codes, issued by CBIC, help in identifying and categorizing services for tax calculation, with the first two digits (99) representing the service ca...
To sub-classify the six-digit HSN code number in some countries, there must be an additional two-digit HSN code put into place in order to create an eight-digit HSN code. Example of an HSN code – schematic The Importance of HSN Under GST The HSN system doesn’t only help Customs agen...
The information provided below about HSN codes are used for GST purpose to classify goods. You may reconfirm with GST authorities whether your product HSN code is classified correctly below. The HSN codes under 02 digits, 04 digits, 06 digits and 08 digits explains and classifies broadly for ea...
Services Accounting Codes (SAC)– SAC is based on HSN, which is internationally recognized system for classifying and codifying all products. A SAC code is used to classify different services under GST. In addition, a SAC code determines the tax rates to apply to services. ...
SAC code in GST (GST codes) SAC and HSN are the similar codes under GST. In case of services, for each type of service provided is given an unified code for recognition, measurement and taxation. These are known as SAC codes. In the current service tax regime, SAC codes are already...