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Joined January 2024
HSN CODE: Concept of HSN Codes Under GST
HSN code stands for Harmonized System of Nomenclature code. It is a system for the classification of goods under GST. HSN code is a 6-digit code used to classify goods under GST. It is an internationally accepted system for classifying goods. The HSN code makes it easy to identify the tax rate applicable to a good.
The HSN code system has been adopted by India as part of the GST regime. The HSN code system is used to classify goods and services into different tax brackets. The HSN code system has over 5,000 product categories that are further divided into chapters and headings.
HSN codes are important for businesses as they determine the rate of tax applicable to a product. The tax rate applicable to a product is determined by the HSN code assigned to it. It is important for businesses to...
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