HSN/ SAC codes under GST & List of HSN/SAC codes

Meaning of HSN and SAC

The Harmonized Commodity Description and Coding System generally referred to as “Harmonized System of Nomenclature” or simply “HSN” is a multipurpose international product nomenclature developed by the World Customs Organization (WCO). HSN codes are used internationally to codifying and classifying all the products in the World.The system is used by more than 200 countries worldwide.

Similar to the International HSN Codes, Under GST Services are also classified and have been allotted specific CODE commonly known as (SAC)Service accounting Code.

So for all the Goods HSN codes while for the Services SAC numbers need to be specified in bills under GST

 Is it compulsory to mention HSN codes for Every Person?

 As per Notification No. 12/2017 – Central Tax following persons are require to file HSN/SAC codes.
So according to above notification. the person whose turnover during Previous year i.e. for F.Y. 2016-17 was up to 1.50 crore then they are not required to mentioned HSN/SAC code in Bills.

 Same way if the turnover during Previous year i.e. for F.Y. 2016-17 was more than 1.50 crore but was  up to 5 crore then you need to mention two digit HSN/SAC code which is the First two Digits of HSN/SAC codes.

 and where the turnover during Previous year i.e. for F.Y. 2016-17 was more than 5 crore then you need to mention four digit HSN/SAC code which is the First two Digits of HSN/SAC codes.

 List of HSN/SAC Code are given below

 HSN Code List

 (SAC) Service Codes

Comments

  1. Unknown18 October 2018 at 04:01

    HSN Code is divided into twenty-one sections, ninety-nine chapters, more than a thousand headings, and five thousand subheadings. All the sections along with their chapters are arranged in terms of their technological complexity or the item’s degree of manufacture. Thanks for sharing your thoughts.

    ReplyDelete
  2. Anonymous7 September 2022 at 23:45

    A GST-eligible product is classified using HSN codes. The store offers a wide range of products and services. There are different tax rates for each of them. Each group has a different GST rate. Services are categorized by Service Accounting Codes (SACs). HSN Code Cheching

    ReplyDelete

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