Hsn code

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What is hsn code
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It is harmonised system of nomenclature. It is accepted globally for imposing tax rates on various classification of goods.

How it will be treated in gst

GST rates will be classified on the basis on HSN codes. No other importance..

Is e-way billing system applicable from july

E-way billing system will be applicable w.e.f. the date of applicability of GST Act which is probably 01st July.

 

HSN codes for Goods and Service Tax (GST) in India

 

Various states in India presently have their own systems for classifying goods for tax rate determination. However, with the coming Goods and Services Tax (GST) regime, there’s a desire for more uniform classification – not just on the national level but internationally.  Hence the move to the Harmonised System of Nomenclature (HSN) for goods and the Service Accounting Code (SAC) system for services. In this whitepaper, we’ll focus on HSN codes as they relate to GST.

What are HSN codes?

HSN or HS (Harmonised Commodity Descriptttion and Coding System) is a multipurpose international product nomenclature developed by the World Customs....

Read more at  - https://www.avalara.com/in/learn/whitepapers/hsn-codes-goods-service-tax-gst-india/ 


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