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
Every business is required to declare list of goods they are dealing into. This declaration is required along with the HSN code of such commodity. System will automatically pick tax rate under GST regime based on these HSN codes. Thus it is of utmost importance to mention correct HSN codes at the time of enrollment or registration under GST
Written on July 4, 2017, 10:32 p.m.