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Can I add HSN code after GST registration?
For including new goods and services in the GST registration, you need to type the relevant HSN codes inside the HSN codes field provided just below the Non-Core Fields. On typing the HSN code, the related goods will show up. You have to tap on it, and the relevant goods type will be added.
Which GST dealers are not required to use HSN code?
Dealers with turnover of less than Rs 1.5 crores will not be required to adopt HSN codes for their commodities. Dealers with turnover between Rs 1.5 crores and Rs 5 crores shall be required to use two-digit HSN codes for their commodities.
Can I add more than 5 HSN code in GST registration?
Can i add more than 5 hsn code in gst registration??? In GST registration, only 5 goods HSN code can be add but if a company wants more than five HSN Code then how they can be add??? 13 May 2018 As of now, only top 5 HSN codes can be added. However, this does not mean that the taxpayer cannot deal in goods/ services falling in other HSN codes.
What is HSN code for goods tax?
Some of the tax rates are decreased from 28\% to 18\% and some of the goods tax rates are shifted to 5\% from NIL. HSN stands for “Harmonized system of Nomenclature” which was developed by the World Customs Organisation (WCO). WCO’s main objective for introducing HSN codes is to classify all the goods in a systematic manner.
Can I include 4 digit HSN code in my invoices?
Answer is Yes and No, depending on the context, while creating GST compliant invoices, you can also mention 4 digit HSN code, if the subheadings have the same Rate (Ex. 12\%, ), but if the Sub heading of the chapter have multiple GST rates as mentioned in the CBEC/GST gst rate card then it has to be mentioned clearly.
Is it possible to have multiple GST rates for the same chapter?
Yes, one Chapter under HSN can have multiple GST rates. However if you go with 4 or 6 digits HSN Code then they will have only 1 rate of tax. Yes, it is possible to have multiple GST rates for the same HSN code. For example HSN code 61 has two tax rates 5\% and12\%.