The Goods and Service Tax Network (GSTN) has enabled new functionality to search HSN/SAC by Name or Code on GST Portal.
Now the taxpayers man search the HSN or SAC by opening the GST Portal, then clicking on Services and selecting User Services.
HSN code stands for “Harmonized System of Nomenclature”. This system has been introduced for the systematic classification of goods all over the world. HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide. It was developed by the World Customs Organization (WCO) and it came into effect from 1988.
SAC Code or Services Accounting Code is a classification system for services developed by the Service Tax Department of India. Using SAC code, the GST rates for services are fixed in five slabs namely 0%, 5%, 12%, 18% and 28%. If a service is not exempted from GST or if the GST rates are not provided, then the default GST rate for services of 18% would be applicable.
