New GST HSN Code List 2024: HSN stands for the "Harmonized System of Nomenclature," a classification system established by the World Customs Organization (WCO). The primary aim of implementing HSN codes is to systematically categorize all goods.
Over 20,000 goods are traded globally using HSN codes, contributing to more than 90% of world trade as per the World Customs Organization's revised coding system. India is actively partaking in this international community by adhering to the HSN codes procedure.
GST HSN Code Applicability Criteria
The utilization of HSN codes primarily applies to dealers and traders, with the specific choice of code length dependent on certain criteria:
- If the business turnover is below Rs. 1.5 crores, there is no obligation to adopt HSN codes.
- If the business turnover falls between Rs. 1.5 crores to Rs. 5 crores, it is mandatory to adopt 2-digit HSN codes for business trades.
- For businesses with a turnover exceeding Rs. 5 crores, the requirement is to adopt 4-digit HSN codes for their trades.
- In the context of import, export dealings, and international trades, businesses are mandated to adopt 8-digit HSN codes for their commercial transactions.
How to Download GST Latest HSN Code List PDF?
To search for the latest HSN code, follow these steps:
- Visit the official Goods and Services Tax website at https://www.gst.gov.in.
- On the homepage, navigate to the services category and select "Search HSN Code."
- Alternatively, you can use the direct link https://services.gst.gov.in/services/searchhsnsac.
- Enter the HSN Chapter by Name or Code in the provided space.
- Click on the "Search" button.
- The relevant HSN Code associated with the entered chapter name or code will be displayed.
By following these steps, users can efficiently find the latest HSN code for their specific requirements on the Goods and Services Tax official website.
Download HSN Codes List in excel format from the below link.
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