CA Vinod Kaushik
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What is HSN code?
As per Wikipedia the Harmonised Commodity Description and Coding System, also known as the HSN (Harmonised System Nomenclature) is an internationally standardized system of names and numbers to classify traded products. These codes are basically used to fix rate of tax on various products at the time of export and import. In Indian context it is proposed to use HSN codes at invoice level to make taxation system of international standard. Under GST supply invoices will be made by capturing hsn codes in case of goods and service accounting codes in case of services.
Also Read- GST Enrolment – HSN Codes- Exhaustive List
HSN code of 4 digits for goods:
Though internationally HSN code is of 6-8 digits but in our context HSN code of 4 digits will be mandatory initially for taxpayers having turnover more than 5 crore. Turnover will be taken on self declaration basis for IST year and afterwards turnover of previous year shall be used. In return form rate of tax shall be auto populated based on the HSN codes used in furnishing invoice level purchase or sale information. After completing first year under GST the turnover for previous year will be considered as yardstick for using HSN codes of 4 digits. The use of HSN codes below its standards is to make GST systematic and globally accepted.
HSN code of 2 digits for goods:
For taxpayers with turnover between Rs 1.5 Crores and Rs 5 Crores in the preceding financial year, HSN codes may be specified only at 2-digit chapter level as an optional exercise to start with. From second year of GST operations, mentioning 2-digit chapter level HSN Code will be mandatory for all taxpayers with turnover in previous financial year between Rs. 1.5 Crores and Rs. 5.0 Crores. HSN code at 2 digit will be little easy for taxpayers and make GST an international compatible tax.
HSN codes in case of Export and Import:
HSN codes at 08 digits will be mandatory in case of export and imports. The GST law has to be compatible with international standards. The concept of HSN codes was invented outside India and same is used by various member countries. The above parameters with respect to HSN code for goods and Accounting Code for services will apply for submitting the information in return relating to relevant invoice level information for B2B supplies (both intra-state and inter-state) and inter-state B2C supplies (where taxable value per invoice is more than Rs. 2.5 lakhs).
Benefits of HSN codes:
In case goods and services are identified through their unique codes i.e. international too the chances of misinterpretation are very low. Again the taxpayers are not required to submit description of goods and services tax in return as the same is to be obtained from invoices which are made on the basis of HSN codes and accounting code.
Other important observations:
Though certain limits have been fixed for mandatory use of HSN codes and service accounting code but any taxpayer can use these optionally if he desires. The small classes of dealers who have opted composition scheme are even not required to use HSN codes of 2 digits. The HSN code will be used in case of goods and accounting code will be used in case of services.
Closing comments:
For all B2B transactions (Inter-state and intra-state) invoice level specified details will be uploaded i.e. every invoice issued by the taxpayers will form part of GST return. For all B2C transactions it will be mandatory to upload invoice wise information if it exceeds 250000/-. The level of compliance proposed in GST law seems very systematic but required enough preparation for professionals and taxpayers. At last in my personal opinion the national impact of Bihar assembly election (Defeat of PM Modi) will be little negative for rollout of GST from 01-04-2016.
(Author can be reached at cavinodkumar67@gmail.com, +91-9953236278)
Disclaimer: Views expressed are strictly personal. The content of this document are solely for informational purpose. It doesn’t constitute professional advice or recommendation. The Author does not accept any liabilities for any loss or damage of any kind arising out of information in this article and for any actions taken in reliance thereon.
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What is the HSN code for Electrical goods ?
Sir please give some alternative way to find HSN code which can be found through the Commodity code given in VAT registration certificate its too confusing in HSN Code list to select.
1.HSN CODE FOR Work Contractor make of Ploting,
2HSN CODE FOR Tractor, Spare Parts Purchase & Resale
3. HSN CODE FOR Interior works
4. HSN CODE FOR Garments
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HSN FOR PHARMACEUTICAL DRUGS AND MEDICINE
Supply of Boiler with accessories
Supply of ETP Plant, Ro Plant and STP Plant
Compressores spares
Steam pipe line work
Supply of chemical
Pls send HSN code
Supply of Chemical
Supply of RO Plant , WTP Plant and ETP Plant
Supply of Boiler with Accessories
Steam pipe line work
Compressores spares
readymade garments code hosiery goods code
what would be code and HSN for bio firtilizer….
WHAT WOULD BE HSN FOR BIO FERTILIZER PRODUCTS
Sir
What is the HSN code for Electrical accessories, Fans, Pvc Pipe fittings, Ind. use cables, MCB, Main Switch, Led Lightings.
kindly let me know the HSNcode for all this goods to be filled in form while registering under GST act
Thanks and Regards
Please advise HSN CODE FOR PIPESof all varities including MS pipes& fittings.GiPipes & fittings,PVC pipes & fittings,CI pipes & fittings,Ductile pipes& fittings etc Hardware/millstore/locks&keys .mswire.wire nails,ms anglerailing material.Thanks & REGARDS
Sir,
What is the HSN code for Manpower Supply
PLEASE GIVE ME HSN CODE LIST IN GST
HSN code for Software ?
what is below mentioned item HSN code
1.Rolling shutter manufacture
2. repair and servicing of rolling shutter
3 welding work job work
4.SS. MS , railing work, shed work, plateform work
5 fabrication work for MS and SS work
pls send by mail (HSN CODEdetails)
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HSN CODE FOR RO PLANT(WATER PURUFIER)
HSN CODE FOR PUMPS, MOTORS,HARDWARTES
ELECTRICAL CONTROL PANEL
SIR
PLEASE PROVIDE BOTH HSN CODE FOR MEDICINE WHERE IS VAT APPLICABLE 6% AND 13.5 %
SIR
PLEASE PROVIDE BOTH HSN CODE FOE MEDICINE WHERE IS VAT APPLICABLE 6% AND 13.5 %
WHAT IS THE HSN CODE FOR GST REGISTRATION
COMPUTER PARTS AND ACCESSORIES
what is HSN code of the followings:
COLD ROLLED STEEL STRIPS(HARDENED
AND TEMPERED.
GI/MS/SS/CR/GP PIPES
ROOFING SHEETS(ALUMINIUM/GI /ETC)
CR/HR/SS/SHEETS/
HARDWARES/ BANDSAW BLADES/WOOD
WORKING TOOLS/MACHINERY/PAINTING BRUSHES/ROLLERS/MASKING TAPES ETC.
Sir,
commodity code for the following two items
1. polyurethane puf panel (wall & Roof)
2. Cold Storage Equipment
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Sir,
commodity code for the following two items
1. polyurethane puf panel (wall & Roof)
2. Cold Storage Equipment
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Hi
what is the HSN CODE for Medical Transcription Services
Thanks
Dear what is the HSN code for the Gift Articles.
what is the HSN Code for sheet metal parts for elevators & lift for gst registration
what is the HSN Code for sheet metal parts for elevators & lift
HSN code for department store
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Sir i m a garments manufacturer ,trouser.payjama,textile and hosiery cloth ,what is hsn code of my item ?
We are doing sheet metalparts on job work for lift, elevator,automobiles and electrical items. We also manufacture the above items on sale basis. We are also manufacturing pumps both motor and engine driven for agricultural and other applications. Please give the HSN code for above items.
HSN Code’s for Works Contract & Service Provider
What is the HSN Coad of cotton sarees, handlooms sarees, silk sarees, synthetic sarees, shuting and shirtings , laungies, Dothies, cotton material, shalls,
What is the HSN Coad of cotton sarees, handlooms sarees, silk sarees, synthetic sarees, shuting and shirtings , laungies, Dothies, cotton material, shalls, – See more at: https://taxguru.in/goods-and-service-tax/concept-hsn-codes-gst.html/#comment-1936170
We are stockist of valves, please let us know HSN Chapter by Name or Code & HSN Code
What is HSN Code No.for
1. JOB WORK ( Labour Charges & Piece work Contract)
2. Panel Assembaly Job work.
3. Panel Wiring Job work
4. Welding Job Work
5. Al. & Copper Bus Bar Job Work.
SIR WE ARE REQUEST TO FOLLOWING HSN CODES PLEASE REPLY
1.MOSQUITONETS (MADE IN HDPE METERIAL)
2.COIR PRODUCTS MADE FOR COCO FIBER
3.NAWAR(PLASTIC AND COTTON)
4.KORAI MATS(MADE GRASS)
5.PACKING SUTLI(MADE RE PROCESING METERIAL)
What is the HSN Coad of cotton sarees, handlooms sarees, silk sarees, synthetic sarees, shuting and shirtings , laungies, Dothies, cotton material, shalls,
What HSN code for Jigs & fixture tools & die parts , Machinery & parts ,
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WE ARE SUPPLIERS OF WELDED MESH AND CHAIN LINK MESH , WHAT ARE HSN CODE SIR, PLEASE LET ME KNOW
what is HSN Code organic manure and vam hand pump,
what is the HSN code of Printing Job
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Machinery Spares & Manufacture of sprocket Gears .