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 ...
Understand what HSN codes are, their structure, and their significance in GST compliance. Learn how to identify and use HSN codes for your business.
Find your product's HSN Code and GST Rate using our HSN Code Finder with which you can search by product name or code, and you can also use the category list to identify your HS Code.
HSN Code GST Rates (%) I01-05Live animals; animal products0101-05110%, 5%, 12%, 18% II06-14Vegetable products0601-14040%, 5%, 12%, 18% III15Animal or vegetable fats and oils1501-15225%, 12%, 18% IV16-24Prepared foodstuffs; beverages, spirits and vinegar; tobacco1601-24030%, 5%...
Q6: Is the GST rate for HSN code 7214 subject to change? A6: Yes, GST rates are subject to revision by the authorities from time to time. It is advisable to stay updated with the latest GST notifications or consult a tax professional to ensure compliance with the current applicable GST ...
In India, the majority of commodities are categorised using the HSN Code list to assist businesses in determining the proper GST rates. In addition, businesses must provide HSN numbers when registering for GST, include codes on product and service invoices, and include HSN summaries when submitting...
According toGST laws, the following table displays theHSN codesand GST rates for Plastics. The data presented is as displayed on theGST Portalof India. GST has made filing returns extremely simple and straightforward. Using the table above, you can easily look up the tax rate for the kind ...
Regularly check the applicable GST rates for your goods and services, including those tied to SAC codes. Utilize Razorpay’s free GST calculator to get both GST-inclusive and exclusive prices, helping you avoid miscalculations. Differences Between the HSN Code and SAC Code SAC and HSN codes are...
For displaying the GST rates and HSN codes the High court Allahabad has said to the bidders to mention it in the notice inviting the Tender to make sure about constant bidding for all the participants. Two judges Sunita Agarwal & Jayant Banerji have said that it is important in order to as...
Misclassification of goods can result in incorrect GST rates being applied, which can lead to penalties and fines. Therefore, it is important for businesses to ensure that they are using the correct HSN code for their aluminum structures and that they are aware of any changes to the GST rate...