6 Replies
CA PRATIK DHRUVE
(CHARTERED ACCOUNTANT)
(634 Points)
Replied 29 May 2017
It is harmonised system of nomenclature. It is accepted globally for imposing tax rates on various classification of goods.
CA PRATIK DHRUVE
(CHARTERED ACCOUNTANT)
(634 Points)
Replied 29 May 2017
GST rates will be classified on the basis on HSN codes. No other importance..
CA PRATIK DHRUVE
(CHARTERED ACCOUNTANT)
(634 Points)
Replied 29 May 2017
E-way billing system will be applicable w.e.f. the date of applicability of GST Act which is probably 01st July.
Siddhesh bhavsar
(GST Consultant )
(24 Points)
Replied 02 June 2017
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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