Under GST, all goods and services transacted in India are classified under the HSN code system or SAC Code system. Goods are classified under HSN Code and services are classified under SAC Code. Based on the HSN or SAC code, GST rates have been fixed in five slabs, namely NIL, 5%, 12%, 18% and 28%.
So here we enabled HSN search feature on IRIS Sapphire. So by providing HSN/SAC codes or description of goods or services you can search for Valid HSN/ SAC code and tax rate applicable for those goods and services.
Search of multiple HSN/SAC is allowed through this utiltiy.
To know more in detail click here.
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