Dealers having turnover of more than 5 crore rupees shall be required to adopt a four-digit HSN Code For imports or exports, it is mandatory to have an eight-digit HSN Code, irrespective of the turnover as the GST HSN Code must be compatible with applicable international practices and stand...
The first two digits of any GST number (GSTIN) represent the GST state code. A taxpayer uses the GST state code list when registering forGSTand entering invoice details inGST Returnsin the form of GSTIN. For example, 29 GST State code in 29AAGCR4375J1ZU represents a business registered ...
It’s also mandatory to use the right HSN codes when filing GST returns so that payments can be verified.HSN code format HSN code format HSN codes in many countries are 6 digits long. In India, an additional 2 digits are used to increase precision. It might help to think of a regular...
GST Exemption List 2023. Exempted supply of Goods means NIL rated goods or wholly exempted goods and it also includes non-taxable supply of goods.
GST Exempted Goods: List of Goods Exempt Under GST Live Animals Live asses, mules and hinnies (HSN Code – 0101) Bovine animals (Live) (HSN Code – 0102) Live swine (HSN Code – 0103) Sheep and goats (Live) (HSN Code – 0104) ...
The introduction of GST has had a positive effect on the nation's economy. Aside from the streamlined taxation system, other advantages include improved exports and valuation competing. The homogeneous taxation system also makes it simpler for taxpayers to understand where their money is going. ...
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