HSN Code List for GST India

HSN full form is Harmonised System of Nomenclature and it is standardized system of name and codes to classify different products. It is a global coding system used by WCO (World Customs Organization) and a variant of this HSN code is being adopted for GST India (Goods and Service Tax India).

In the GST, HSN codes are proposed to identify products and these HSN codes will need to be mentioned on supply invoices. This will help in ease of identifying corresponding tax rate based on the HSN code.

HSN Code applicability for GST

HSN code consists of 6-8 digits. The first two digits represents the HS Chapter, next two digits HS hading and last two the HS subheading.

As per the GST bill, full HSN code need to be mandatory mentioned by all taxpayers whose turnover is more than 5 crore.

For taxpayers having turnover between 1.5 crore and 5 crore, only first 2 digit of code is mandatory to be mentioned on invoice.

Taxpayers having turnover less than 1.5 crore, there is no need to mention HSN code on the invoice.

Taxpayers involved in import and export will need to mentioned the full HSN code in all invoices.

HSN Code List for GST

Full list of HSN codes for GST is available at MCA website and can be downloaded in pdf form from https://mca.gov.in/XBRL/pdf/ITC_HS_codes.pdf

Category: finance gst