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HNS clerification

Ajay Prajapati (512 Points)

23 June 2017

what is HNS ... i want to know about it cause in GSTR-1 form a column is avlaible of HNS ... pls tell me ?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (170785 Points)
Replied 23 June 2017

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

Under GST, the majority of dealers will need to adopt two-, four-, or eight-digit HSN codes for their commodities, depending on their turnover the year prior.

Dealers with turnover of less than Rs 1.5 crores will not be required to adopt HSN codes for their commodities.
Dealers with turnover between Rs 1.5 crores and Rs 5 crores shall be required to use two-digit HSN codes for their commodities.
Dealers with turnover equal to Rs 5 crores and above shall be required to use four-digit HSN codes for their commodities.
In the case of imports/exports, HSN codes of eight digits shall be compulsory, as GST has to be compatible with international standards and practices.