What is HSN Code? HSN code stands for “Harmonized System of Nomenclature,” a eight-digit code used to systematically name and classify goods for taxation and trade. It was developed by the World Customs Organization (WCO) and serves as the global standard for categorizing over 5,000 products...
HSN Code SAC Code Full FormHarmonized System of NomenclatureService Accounting Code LengthTypically 8 digits6 digits PurposeClassifies goodsClassifies services Structure2 digits for chapter, 2 for heading, 2 for product, 2 for sub-product2 digits for major service, 2 for specific service, 2 for su...
and promote effective business operations. Understanding the meaning of HSN codes as a business owner or a responsible taxpayer gives you the ability to accurately and confidently negotiate the complexity of GST. use this process to Find HSN/ SAC Code In GST Portal : ...
This GST HSN code system serves two key purposes:: Streamlined Taxation:The HSN code helps identify the specific product category, which directly determines the applicable GST rate. This simplifies tax calculation and administration for businesses.. ...
HSN Code SAC Code Full FormHarmonized System of NomenclatureService Accounting Code LengthTypically 8 digits6 digits PurposeClassifies goodsClassifies services Structure2 digits for chapter, 2 for heading, 2 for product, 2 for sub-product2 digits for major service, 2 for specific service, 2 for su...