An HSN code should be defined for theItemproduct type, or an SAC should be defined for theServiceproduct type. The item sales tax group should be removed. Assign SACs to miscellaneous charges Go toAccounts payable>Charges setup>Charges code. ...
The SAC code is a similar concept to the HSN code. SAC stands for Service Accounting Codes, and it is a one-of-a-kind code used in India underneath the GT regime for the identification, evaluation, and taxation of services. As part of it: The starting two digits, i.e., 99 are the...
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.
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 defined for each type of servic...
Who Offers HSN Code? DGFT is in charge of any revisions, formulation, or addition of new codes to the HSN Codes (Directorate General of Foreign Trade). As part of the continual process of refining HSN Codes, changes to product descriptions, the removal of dead codes, the insertion of new...
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Since from 1st April 2021 it is important for the GST assessee who posses the turnover exceeds 5 cr in the before fiscal year, to file 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, SAC (Service Accounting Code) upon the invoices provided for the ...