How to add HSN Code in the GST Portal?

by E-Startup India WE PRACTICE ONLINE, FAST & COST EFF For businesses operating in India, familiarity with the Goods and Services Tax (GST) is essential. GST is a taxation system that applies to both goods and services. One crucial aspect of this system is the Harmonized System of Nomenclature (HSN) Code, a specialized code assigned to each product to determine the applicable tax rates. This article aims to provide a comprehensive guide on how to add HSN codes on the GST portal, streamlining the process for business owners.

How to Add HSN Codes on the GST Portal:

Step 1: Log in to the GST Portal
The first step involves accessing the GST portal through your business account.

Step 2: Navigate to 'Services' > 'Registration' > 'Amendment of Registration Non-core fields'
On the dashboard, locate the specified path to amend non-core fields related to registration.

Step 3: Select the 'Goods and Services' Tab
Navigate to the 'Goods and Services' tab to begin the process of adding HSN codes.

Step 4: Access the 'Goods' Tab
Within the 'Goods' tab, select the option to add or modify HSN codes for your products.

Step 5: Locate the Applicable HSN Chapter
Enter either the HSN code or the item's name to find the relevant HSN chapter applicable to your product.

Step 6: Save and Continue
Click on 'Save and continue' to proceed with saving your input. Repeat this step until you reach the verification stage.

Step 7: Verification Process
Complete the verification process and submit the information using either a Digital Signature Certificate or an Electronic Verification Code (EVC).

Important Considerations:

Use the Correct HSN Code:
Ensure accurate classification by using the correct HSN code for each product or service to avoid potential legal complications.

Keep HSN Codes Updated:
Regularly check for updates in HSN codes and GST rates, as the government may make changes. Staying current ensures compliance with the latest regulations.

Know GST Rates:
Different products and services attract varying GST rates. Familiarize yourself with the specific rates applicable to your offerings to ensure accurate tax calculations.

Use SAC Codes for Services:
For services, utilize Service Accounting Codes (SAC) instead of HSN codes. Accurate SAC code application ensures proper GST assessment for services.

Maintain Records:
Keep organized records of all assigned HSN codes for easy retrieval and reference in the future.

Conclusion:
Adding HSN codes on the GST portal is a crucial step for businesses in India to comply with tax regulations. By following the outlined steps and considering the important factors, business owners can ensure accurate and timely submission of HSN code information, contributing to a seamless GST compliance process.

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Created on Dec 8th 2023 03:01. Viewed 67 times.

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