Goods and Services Tax : A common point of confusion for millions of grocery store owners and other small retailers in India is whether they must include H...
Goods and Services Tax : Explore GST Reverse Charge Mechanism (RCM) with a master chart detailing applicable services and goods, HSN/SAC codes, rates, and...
Goods and Services Tax : From January 2025, reporting HSN codes in GSTR-1/1A Table 12 is mandatory. Key changes include auto-populated descriptions, dropdo...
Goods and Services Tax : Learn about HSN/SAC code reporting rules in GST returns, including turnover thresholds, PAN-wise applicability, and mandatory code...
Goods and Services Tax : For sweets and snacks manufacturers in India, understanding the correct Harmonized System of Nomenclature (HSN) codes is crucial f...
DGFT : Union Commerce Minister Piyush Goyal has launched a guidebook mapping 12,167 HSN Codes to 31 ministries, aiming to improve policy,...
Goods and Services Tax : As per Notification No. 78/2020 – Central Tax dated 15th October, 2020, it is mandatory for taxpayers to mention 6-digit HSN C...
Goods and Services Tax : GST helpdesk is in receipt of some tickets at helpdesk wherein it was reported that certain 6-digit HSN codes are not available in...
Goods and Services Tax : GSTN updates GSTR-1/1A reporting. HSN code reporting in Table 12 is mandatory (4/6 digits based on turnover). Table 13 (document d...
Goods and Services Tax : GST mandates 4-6 digit HSN code reporting in GSTR-1/1A. Phase 3 starts Feb 2025 with stricter validations for B2B & B2C supplies. ...
Goods and Services Tax : It is now mandatory for taxpayers to report a minimum of six-digit valid HSN code for their outward supplies having AATO of more t...
Goods and Services Tax : A revamped & enhanced version of Search HSN Functionality has been launched on the GST Portal. The Search HSN functionality ...
Goods and Services Tax : Advisory on HSN and GSTR-1 Filing | 26/08/2021 1. In accordance with Notification No. 78/2020 – Central Tax, dated October 15, 2...
Explore the world of Goods and Services Tax (GST) and Harmonized System of Nomenclature (HSN) codes. Learn about GST rates, the significance of HSN codes, and how to calculate GST using HSN codes. Dive into chapter-wise distribution of commodities and gain insights into the practical application of HSN codes in your business.
In this article, we will explore the GST HSN codes for plastic products, understand the GST rates applicable to plastic items, and provide specific insights into HSN codes for various plastic products.
Article explains What is SAC code in GST, Who may use SAC Codes, SAC Codes and GST rates for various services and Benefit of SAC code.
It is now mandatory for taxpayers to report a minimum of six-digit valid HSN code for their outward supplies having AATO of more than 5 crores in any previous financial year.
As per Notification No. 78/2020 – Central Tax dated 15th October, 2020, it is mandatory for taxpayers to mention 6-digit HSN Codes for their outward supplies having AATO more than Rs 5 Crores.
A revamped & enhanced version of Search HSN Functionality has been launched on the GST Portal. The Search HSN functionality was earlier given as a measure of facilitation to the taxpayer to search the Technical Description of any particular HSN code of any goods and/or service used in the Trade, vis-a-vis HSN description in the Customs Tariff […]
HSN stands for Harmonised System of Nomenclature code, it is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization based in Brussels, Belgium, with […]
Advisory on HSN and GSTR-1 Filing | 26/08/2021 1. In accordance with Notification No. 78/2020 – Central Tax, dated October 15, 2020, taxpayers need to declare Harmonised System of Nomenclature (HSN) Code of Goods and Services supplied by them on raising of tax invoices, with effect from 1st April, 2021 on the below mentioned lines. […]
What Is HSN and its importance HSN is a short form for Harmonized System of Nomenclature introduced by the world customs organization in 1988 to identify and classify goods for levying custom duty. HSN avoids goods being classified differently in different custom zones of the various ports, thus bringing certainty to the taxation part of […]
GST Returns- New Functionality i. Moving the records saved in IFF, to later months of same Quarter, by taxpayers under QRMP Scheme Following enhancements have been made for the taxpayers under QRMP Scheme in the Invoice Furnishing Facility (IFF): Taxpayers can now MOVE the records saved in their IFF of first month of a quarter […]
