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  2. HSN Code is the same as the Harmonised System Code (HS Code) in shipping. However, it is more commonly known as the HSN in India. Like the HS Code list, each of the HSN codes for import and export of goods comprises six digits.

    • What Is GST
    • What Are GST Rates
    • What Is An HSN Code
    • Importance of GST HSN Code
    • How Does HSN Code Work?
    • Chapter Wise Distribution of Commodities Using HSN Code List
    • Challenges

    Goods and Services Tax(GST) is the value-added tax levied on almost all goods sold for domestic consumption and services we use within the country. It is a single tax structure removing all the previous central and state taxes. GST is actually paid by the customers who avail the service or the goods they buy, but it is remitted to the government by...

    GSTis one of the biggest reforms in the taxation sector in India. GST helped in bringing uniformity in the taxation of various commodities and services used in India. It also contributed in eliminating the cascading effect of various taxes levied by state and central government. Goods and Services Tax (GST) is the single taxation, but due to the va...

    HSN stands for “Harmonized system of Nomenclature” which was developed by the World Customs Organisation (WCO). WCO’s main objective for introducing HSN codes is to classify all the goods in a systematic manner. It clears the confusion and helps in domestic and international trade between the countries. More than 20,000 goods are traded using HSN c...

    For years other countries are using HSN codes for the trade. After the introduction of GST in our country, HSN and imports and exports standardize Codes as accepted in the global platform have been adopted. The use of HSN codes minimize the cost and simplify the customs procedure. The HSN codes help all the taxpayers, to know about GST rates agains...

    The use of HSN codes are mainly for dealers and trades. They must adopt 2 digits, 4 digits, and 8 digits HSN codes depending upon the following criteria.

    All the goods and services are classified into 21 sections and 99 chapters. The chapters are again into 1244 subheadings. The given HSN codes give the GST tax rates which are levied on the goods. Sources: http://www.cbic.gov.in/htdocs-cbec/customs/cst1718-010718/cst1718-0107-idx http://www.cbic.gov.in/htdocs-cbec/customs/cst1718-020218/cst1718-0202...

    Till now 34 GST council meetings are held with various agenda. To spread awareness about GST and use the HSN codes in trading, the government is facing difficulties for the past two years. Many goods are shifting from one tax slab to another tax slabs depending on the trade and usage. One HSN code is used for different tax slabs. Many companies are...

  3. Jul 6, 2024 · In India, the HSN Code is an extended 8-digit system for classifying goods under the GST regime. It builds upon the global 6-digit HSN code by adding two more digits for further product categorization. This GST HSN code system serves two key purposes::

  4. Jul 8, 2024 · 1. What is the HSN code in India? HSN stands for Harmonized System of Nomenclature and is used to classify goods in a systematic manner. 2. What is the GST E-bill? Electronic Way Bill or an E-Way Bill is a bill issued for the movement of goods in India. The bill has to be generated on the E-Way Bill Portal. 3. What is HSN code used for?

  5. Find HSN Code or ITC HS Code and their GST Rates for your product with our HSN Code Search Tool. Search by either product name or HSN Code. Use a category list as an alternative way to get to your product's HS code.

  6. Jul 17, 2024 · HSN standardizes the classification of merchandise under sections, chapters, headings, and subheadings. This results in a six-digit code for a commodity (two digits each representing the chapter, heading, and subheading). India, a member of WCO since 1971, has been using HSN codes since 1986 to classify commodities for Customs and Central Excise.

  7. HSN standardizes the classification of merchandise under sections, chapters, headings, and subheadings. This results in a six-digit code for a commodity (two digits each representing the chapter, heading, and subheading). India, a member of WCO since 1971, has been using HSN codes since 1986 to classify commodities for Customs and Central Excise.