HSN Code List for GST

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answered Jun 23, 2017 by admin (460 points)
edited Jun 23, 2017 by admin

The Harmonized Commodity Description and Coding System generally referred to as HSN or Harmonized System of Nomenclature is a multipurpose international product nomenclature developed by the World Customs Organization (WCO). 

Each commodity or goods traded across the world are known by different names to language differences. Similarly in IT-enabled multinational trade, a unique code is given to each class of tradable commodity based on its nature and usage. This classification and codification is known as HSN or Harmonized System of Nomenclature code that you will require to file for your GST.

India has already been using HSN or Harmonized System of Nomenclature system since 1986 in the Central Excise and Customs regime. It is a much more detailed classification that added another two digits to the 6-digit structure. Indian manufacturers under GST shall be required to follow a 3-tiered structure of HSN or Harmonized System of Nomenclature.

  • Those with a turnover of less than INR 1.5 Crores need not follow HSN or Harmonized System of Nomenclature
  • Those with a turnover exceeding INR 1.5 Crores but less than INR 5 Crores shall be using the 2 digit HSN or Harmonized System of Nomenclature codes
  • Those with a turnover exceeding INR 5 Crores shall be using the 4 digit HSN or Harmonized System of Nomenclature codes
  • Those dealers who are into imports or exports shall mandatorily follow the 8 digit HSN or Harmonized System of Nomenclature codes

List of HSN or Harmonized System of Nomenclature Codes is attached here in PDF format as including the entire list here will quite large.

commented Jun 23, 2017 by admin (460 points)
For more information about GST or Goods and Services Tax Registration number, please visit https://www.bankcircle.in/blog/tag/gst

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