Find GST Rate, HSN Code & SAC code
|HSN Code||Exim||DESCRIPTION||GST RATE|
GST Tax Rate schedule list in India for goods and services with HSN/SAC code, GST Rate finder India, SAC Code for GST Rate PDF, HSN code for GST. GST RATE HSN Code pdf Goods, GST RATE SAC Code pdf Services, GST RATES PDF OF GOODS , GST RATES PDF FOR SERVICES.
What is HSN Code?
Harmonized System of Nomenclature or HSN, is a 8-digit uniform code allotted to over 9000 goods and is universally accepted. Conceived and developed by World Customs Organization (WCO) in order to classify goods from all over the world in a systematic way. Adopted in over 200 countries, it covers around 98% of all goods produced and traded in, under its ambit.
HSN Codes for GST in India:
HSN will be applicable in India after implementation of GST. India has already been using HSN system in the Central Excise and Customs regime.
It is a much more detailed classification that added another two digits to the 6-digit structure. There is a requirement to mention HSN code of items in tax invoice under GST.
Provisions related to HSN under GST are given below:-
• Now the Govt. has given some relief to small taxpayer with annual turnover up to Rs 1.50 crores in preceding financial year need not be required to mention HSN code in their tax invoice.
• Taxpayers having turnover exceeds Rs. 1.5 crore but up to 5.00 crore will be required to mention only two digits of HSN code.
• Taxpayers having turnover exceeds Rs 5.00 crore will be required to mention four digits of HSN code.