GST Rate Finder & HSN Code List

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Disclaimer:

Rates given below are updated as per 31st GST council meeting held on 22nd December 2018 to the best of our information. There may be variations due to Government's latest updates. We are not responsible for any wrong information. Against each rate, Please check the ''Effective from'' date. If you need to check a rate before ''Effective from'', please check on government website.

What is HSN?

HSN stands for Harmonized System of Nomenclature. HSN was developed by the World Customs Organization (WCO) to classify the goods across the world in a systematic manner for the purpose of taxation in identifying each product. HSN classification covers more than 5,000 products, and it came into force from 1988. HSN is widespread and has been adopted by more than 200 countries for uniform classification, the base for customs tariff and for collecting international trade statistics.

What is an HSN code for GST?

Each product is assigned an HSN code. An HSN code comprises of six digits arranged in a logical structure. HSN classification was already in existence in India during the Central Excise and Customs regime, however, it became detailed in the GST with two more digits added to it. Hence, an HSN code in the GST regime contains 8 digits.

Understanding HSN considers

The HSN structure consists of 21 Sections with 99 Chapters, 1,244 headings and 5,224 subheadings. Each section is divided into a Chapter and each Chapter is divided into a Heading. Each Heading is further divided into a Subheading. Section and Chapter denote the categories of products or goods while Heading and Subheading denote the products in detail.
It is mandatory for a product to have all eight digits in case of export and import under the GST regime.

What is SAC?

Similar to the International HSN system, services are classified under Service Accounting Code or SAC.

Some of the Service Accounting Codes released by the Indian government are:

  • General insurance Service - 440005
  • Advertising agency Services - 440013
  • Legal consultancy services -440480
  • Outdoor catering services - 440051
  • Restaurant service - 441067
  • Promotion, marketing, organising and assisting games like lottery - 440595
  • Franchise service - 440237
  • Fashion designer services - 440213
  • FAQs on Filing a Trademark

    Who needs HSN codes?

    HSN code is mandatory for:

  • Taxpayers having a turnover of more than 5 crores.

    Note: HSN code is specified in 4 digits. Turnover will be taken on a self-declaration basis for the first year and afterwards, the turnover of the previous year shall be used.

  • Taxpayers having turnover between Rs 1.5 crores and Rs 5 crores

    Note: HSN code is specified in 2 digits.

  • Import and export businesses

    Note: HSN code is specified in 8 digits

  • HSN code is not required for:

  • Dealers having an annual turnover of less than Rs 1.5 Crores
  • Dealers registered under the GST Composition Scheme
  • Why HSN codes and SAC are required in GST?

    All GST-registered entities must compulsorily file GST returns every month, quarter and every year depending on the type of business and turnover. While filing returns taxpayers may find it difficult to upload the description of the supplies and commodities. Hence, an HSN code will identify the product in detail. The codes will automatically be picked up from the registration details that the taxpayer provides during the registration of GST.

    In addition, HSN classification is a worldwide recognized system that provides a uniform, logical structure, thereby avoiding any misinterpretation in levy of taxes. It also makes GST compliant with international standards.

    How do I check the HSN code for my product?

    With Vakilsearch’s HSN code finder you can find the code of your product easily. All you need to do is just enter the name of the product and click “Search”. The HSN code along with the Chapter, GST rate, Description of the product and the related codes will be displayed.

    Where should the HSN code and SAC be mentioned?

    Every supplier of goods and services must issue an invoice mentioning the HSN code and SAC for the commodities and services rendered. It is important for every dealer to be aware of the structure.

    What is the GST rate?

    In GST, each product falls under any one of the four tax slabs, 5%, 12%, 18% and 28%. The GST council has covered over 1300 products or goods and more than 500 services under the tax structure. Apart from this, the GST rate for gold is fixed at 3% and rough precious and semi-precious stones at a special rate of 0.25%. Also, some of the commonly consumed goods like buttermilk, fresh fruits and vegetables, milk, curd, natural honey, etc. are exempted from GST.

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