Table of Contents
What is the HSN code for online services?
The Online service import export trade sector contributes significantly to the overall GDP percentage of India….HS Code used for Online service – Import.
| Hs Code | Description | No of Shipments |
|---|---|---|
| 85044090 | Other | 2 |
Is HSN code mandatory for ecommerce?
In India, as mentioned above, businesses with a turnover of 1.5 crore rupees or less need not use the HSN code. Businesses with a turnover of more than 1.5 crore rupees and less than 5 crores are required to use the 2 digit HSN code for services and goods.
How do I find the HSN code for a product?
For example, if you are selling fresh bananas, you can find your HSN code under Section 02: Vegetable Products, Chapter 08: Edible fruits and nuts; peel of citrus fruits or melons, Heading 03: Bananas including Plantains, Subheading 9010: Bananas, fresh. Your HSN code will be 0803.
What is HSN code in Amazon seller?
HSN (Harmonised System of Nomenclature) is an internationally accepted product coding system. In India, HSN coding is currently used under Excise, Customs, and state Value Added Tax (VAT) laws and is now also proposed to be used under Goods and Services Tax (GST) law, for classification of products/goods.
Is 4 digit HSN code valid?
Similarly, where HSN at 4-digits are specified, valid HSN codes as available in tariff, at 4-digit, 6-digit and 8-digit can be mentioned. However, the 4/6 Digit HSN Codes, which are not available in the tariff; along with specific description, Unit and GST Rate; are not allowed to be mentioned.
How do I find my 4 digit HSN code?
It also follows that the declaration of HSN at 4/6 Digits has to be out of valid HSN codes only….Clarification on reporting 4-digit/6-digit HSNs.
| S. No. | Aggregate Turnover in the preceding Financial Year | Number of Digits of HSN Code |
|---|---|---|
| 1. | Upto INR 5 crores | 4 |
| 2. | More than INR 5 crores | 6 |
How to search for HSN codes?
Search By Product Name: Type the name of your product, you will get recommendations of the most relevant 4 digit HSN Codes. Hit search for all results if the recommendations do not contain the right HS code. Click on the 4 digit code to get 6 and 8 digit HS code details for export-import purposes, as well as the GST Rates.
What is the meaning of HSN code in GST?
HSN codes are used to classify goods and service, Each product and service has been assigned with unique HSN and SAC code with appropriate GST rate. So HSN has nothing to do with online or offline selling, It completely depends on the type of product you are offering.
Do businesses need to mention HSN codes on invoices?
Businesses with an annual turnover less than Rs. 1.5 Crores are not required to use HSN codes to sell their goods. Businesses registered under the composition scheme are not required to mention HSN codes on their invoices. How many codes are businesses required to mention on the invoice?
What is HS code (HS code)?
What Is HSN Code? The full form of HSN stands for “Harmonized System of Nomenclature”. HS Code which is known as HSN Code in India was developed by World Customs Organization (WCO) as a standardised system that classifies goods all over the world in a systematic manner.