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"How will the goods and services be classified under GST regime?"

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

"How will the goods and services be classified under GST regime?"

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1 Answers
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Open uri20170510 32134 s5bvk0?1494421637 answered

"Dear Friend, as far as your query is concerned let me informed regarding your query that "HSN (Harmonised System of Nomenclature) code shall be used for classifying the goods under the GST regime. Taxpayers whose turnover is above Rs. 1.5 crores but below Rs. 5 crores shall use 2 digit code and the taxpayers whose turnover is Rs. 5 crores and above shall use 4 digit code. Taxpayers whose turnover is below Rs. 1.5 crores are not required to mention HSN Code in their invoices. Services will be classified as per the Services Accounting Code (SAC)" Hope answer regarging your query was helpful to you. Also let me know your further query. Regards, Arjun Pratap Singh"

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