How do I find my 8 digit HSN code?
In the 8 digit structure of an HSN Code, the first 2 digits define the Chapter, at 4 digit level are the headings, at 6 digit are the subheadings and finally at 8 digit are the tariff items.
HSN code stands for “Harmonized System of Nomenclature”. This system has been introduced for the systematic classification of goods all over the world. HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide.
Is HSN 8 digit code mandatory?
Gstr-1 HSN Code Businesses can, however, optionally include the HSN code at additional digits. Businesses with up to 5 crores can use HSN at 6 or 8 digits, while businesses with more than 5 crores can use HSN at 8 digits.12-Sept-2022
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How do I get HSN code?
For example, if you are selling fresh bananas, you can find your HSN code under Section 02: Vegetable Products, Chapter 08: Edible fruits and nuts; peel of citrus fruits or melons, Heading 03: Bananas including Plantains, Subheading 9010: Bananas, fresh. Your HSN code will be 0803.
HSN Code 0101 to 2202 for 12% GST Rate Items [Substituted w.e.f. 01.01. 2022 vide Notification No. 18/2021-Integrated Tax (Rate), G.S.R. 893(E) dated 28.12.06-Jan-2022
What is HSN code for transportation?
The HSN CODE FOR Goods Transport Services is 9965.
“Having effect from April 1, 2021, a GST taxpayer with a prior fiscal year turnover of more than ₹ 5 crore must submit a 6 digit HSN Code (Harmonised System of Nomenclature Code) or, as the case may be, SAC (Service Accounting Code) on invoices issued for deliveries of taxable goods and services.19-Aug-2022
Who can use 6 digit HSN code?
The GSTN has implemented mandatory mentioning of 6 digit HSN codes in GSTR-1 for turnover above 5 crore on the GST Portal. It shall be available for the taxpayers w.e.f. 1st August, 2022.22-Jul-2022
Similarly, where HSN at 4-digits are specified, valid HSN codes as available in tariff, at 4-digit, 6-digit and 8-digit can be mentioned.Clarification on reporting 4-digit/6-digit HSNs.
Who can use 2 digit HSN code?
2-digit HSN code for goods From the second year of GST operations, mentioning 2-digit chapter level HSN code will be mandatory for all taxpayers with turnover between Rs. 1.5 crore and Rs. 5 crore in the previous financial year.
The first two digits (39) indicates the chapter under HSN codes. The next two digits (08) indicates the headings under chapters. Next 2 digits (90) indicates the sub-headings, 6 digits HSN code is accepted worldwide. The next 2 digits (10) sub-classify the product tariff heading during import and export of supply.03-Aug-2022
What is freight charge?
Freight costs are also known as freight charges or freight rates. It is the amount paid to a carrier company for the transportation of goods from the point of origin to an agreed location.
5%
What is the SAC code for freight charges?
SAC Code 996511 – Road transport services of Goods including letters, parcels, live animals, household and office furniture, containers and others by refrigerator vehicles, trucks, trailers, man or animal-drawn vehicles or any other vehicles.
HSN Code 1107 to 3205 for 18% GST Rate Items Vegetable saps and extracts; pectic substances, pectinates and pectates; agar-agar and other mucilages and thickeners, whether or not modified, derived from vegetable products [other than tamarind kernel powder].06-Jan-2022
What is HSN in GST?
HSN stands for Harmonized System of Nomenclature and is used to classify goods in a systematic manner. It was developed by the World Customs Organization (WCO) and is considered the global standard when it comes to naming goods.17-Sept-2021
The first two digits (39) indicate the chapter under HSN codes. The next two digits (08) indicate the headings under chapters. The next 2 digits (90) indicate the sub-headings, 6 digits HSN code is accepted worldwide.
What is GST in HSN code 9954?
GST Tax Rate: 18%
21069099. FOOD PREPARATIONS NOT ELSEWHERE SPECIFIED OR INCLUDED - OTHER : OTHER : OTHER.
What is the GST rate for HSN code 9988?
5%
How do I find my 8 digit HSN code?