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 ...
How to Check the HSN Code in GST Portal? It’s Important Checking the HSN Code in GST Portal is a simple yet crucial process for businesses. The HSN code, a systematic… SAC Code for Consultancy Services The SAC code 9983 is dedicated to ‘Other Professional Services,’ a comprehensive cat...
For example, SAC code 997212 covers rental or leasing services involving owned or leased non-residential property. Breaking it down: The initial “99” refers to services. The “72” represents the primary category, which is leasing or rental services. ...
For example, SAC code 997212 covers rental or leasing services involving owned or leased non-residential property. Breaking it down: The initial “99” refers to services. The “72” represents the primary category, which is leasing or rental services. ...
Under the GST laws, the services will be classified as per the Services Accounting Code(s) (SAC) Provisions related to HSN code for GST India Small taxpayers with annual turnover up to Rs 1.50 crores in preceding financial year need not be required to mention HSN code wise GST rate in ...
HSN code is used by countries across the globe when trading goods and services. Each item is assigned a six-digit code in order to accurately identify the goods being traded and for quick and easy comparison. For example, computer parts are classified under HSN 8473. It allows for easier tr...
is used to classify products based on their nature, type, and intended use. In India, HSN codes are used for the purpose of Goods and Services Tax (GST) rate determination. HSN code 7610 pertains to aluminum structures, and in this blog, we will explore the GST rate applicable to it. ...
The HSN code is a standard business use to classify goods and services. Customs officials use this code to levy correct taxes on imported and exported goods. Companies also use the code to keep track of their inventory. As the HSN code is a global standard, businesses must have it on th...
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HSN Code Description of goods HSN code6201 Men's or boys' overcoats, car-coats, cloaks, anoraks (including ski-jackets), wind-cheaters, wind jackets and similar articles other than those of heading 6203 - Overcoats, raincoats, car-coats, ...