Hsn Code List In Excel Free Download

  

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HSN Code List Download for GST | HSN Full Form and Meaning | What is HSN Code

You can now look around for code list for HSN for your business. Full form if HSN is Harmonized system nomenclature and is internationally accepted way to identify any product using the coding system. It is used to maintain classification of goods in a uniform way.

HSN Codes in Excel File Free Download HSN Codes in Excel File 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. 98 rows  Mar 04, 2020  HSN Code List for GST in pdf, HSC Codes in Excel Format, Find HSN Code for. Nov 13, 2017 GST Rate with HSN Code in tally जीएसटी रेट की टीडीएल फाइल टैली में कैसे जोड़े और युस कैसे करे.

SAC refers to service accounting coding that has been adopted by the customs and excise board for services identification.

Under GST regime it is certain that the government shall us the HSN code system for classifying various goods. Any tax payer who has a turn over between Rs 1.5 crore to 5 crore shall be provided with 2-digit code and in case the turnover exceeds Rs 5 crore then they shall be provided with 4 digit code system. For tax payers whose turnover is much below Rs 1.5 crore are not expected to provide with HSN code when providing invoice.

HSN code and descriptions

Download SAC code List in GST pdf | SAC full form and Meaning

Under the new GST regime, it is certain that SAC codes have to be mentioned by the service providers for each of the services provided by them. Under the new regulations it is important for us to get more familiar with SAC (Service Accounting Tax) code list. This is likely to affect most small and big businesses.

What is SAC code list?

  • SAC stands for service accounting tax under the new system of nomenclature. Under this all services and goods have been offered with specific codification and placed under different sections.
  • Across the globe it is certain that each traded goods and services are identified by different names. In present time as trading is becoming IT-enabled so it is certain that each service provided is also offered with unique coding system depending on the basis of its usage and nature.
  • This codification is known as SAC and is provided under the SAC code list which is required the moment you file returns under the GST.
  • This unified code system is required for the purpose of taxation and measurement for type of services provided under the current tax regime.

SAC – Its Importance

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SAC is a special system that is used for coding all types of services provided. Apart from this it is also used at the time of calculating tax for service providers when registering under GST system.

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Key features of SAC code List

  • Any business or services that are having a turn over exceeding Rs 1.5 crore are expected to provide with a unique two digit coding system for the services and goods provided.
  • If the turn over exceeds Rs 5 crores in value then the service providers are expected to provide with six digit code.
  • You can check with the unique code for various services provided by the official SAC code list web site online.
  • It is certain that when migrating under the new GST tax system service providers have to mention the code at the time of registration process.
  • The SAC codes are issued by the government that is applicable for the service tax for the service provider. The code is expected not to change under the GST regime.

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Where are we going to use SAC codes?

According to the new GST regime it is certain that service providers have to mention the SAC code from the list on each of the invoice provided for offering their services. This has to be provided by them when shifting from old taxation system to new implemented GST system.

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Was SAC code used in the past?

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SAC codes have been implemented after the GST was implemented by the government. Earlier SAC codes were used along with HSN codes, but presently it has been made compulsory for service providers to mention the related SAC code in invoices.