HSN Code SAC Code Full Form Harmonized System of Nomenclature Service Accounting Code Length Typically 8 digits 6 digits Purpose Classifies goods Classifies services Structure 2 digits for chapter, 2 for heading, 2 for product, 2 for sub-product 2 digits for major service, 2 for specific servic...
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The HSN code aids in determining the quantity of all items imported or traded through a nation. The Importance of the HSN Code While the primary purpose of the HSN code is the systematic classification of goods, it can also be used to gather data and solve problems that would otherwise be ...
HSN code was introduced to make the GST systematic. While filing the GST returns, the taxpayers do not need to mention the description of the goods but instead mention the HSN code. The CBIC has also stated that mentioning HSN code is now mandatory in GSTR-1, if you are in the turnove...
taxes are processed smoothly, 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 ...