Most asked questions from the Government on GST.
Question 21
How will the goods and services be classified under GST regime?
Question 5, click Here
Ans. HSN (Harmonised System of Nomenclature) code shall be used for classifying the goods under the GST regime.
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.
Taxpayers whose turnover is below Rs. 1.5 crores are not required to mention HSN Code in their invoices.
States/ Union territory would be called the State GST (SGST)/ UTGST.
Taxpayers whose turnover is below Rs. 1.5 crores are not required to mention HSN Code in their invoices.
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