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 service, 2 for sub-servic...
The standardised HSN codes facilitate consistency in international trade, enhancing the efficiency of cross-border trade processes. 3. Accurate Tax Calculation HSN codes help precisely identify products, enabling the application of the correct GST rates. This ensures accurate tax calculation and minimises...
The full form of HSN stands for “Harmonized System of Nomenclature”. HS Code which is known as HSN Code in India was developed by World Customs Organization (WCO) as a standardised system that classifies goods all over the world in a systematic manner. In India, HSN Code has 4, 6 & ...
What is the full form of HSN Code? HSN stands for Harmonized System of Nomenclature Is HSN code 4 digit or 8 digit? Generally, HSN codes consist of six digits. On the other hand, our eight-digit HSN codes in India are as follows: the first two are the chapter number, the next two...
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 service, 2 for sub-servic...