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The purpose of HSN codes is to make GST systematic and globally accepted. The Harmonized system of Nomenclature (HSN) code is used for classifying goods under the Goods and Services Tax (GST) in India. The HSN code is a six-digit code that uniquely identifies a product.
The process of assigning HS codes is known as "HS Classification". All products can be classified in the HS by using the General Rules for the Interpretation of the Harmonized System ("GRI") that must be applied in strict order. HS codes can be determined by a variety of factors including a product's composition, its form and its function.
The company also diversified into e-sign service [23] and was shortlisted as the GSP (GST Suvidha Provider) by GSTN (GST Network) in 2017. [24] In 2018, IDBI Bank sold its entire 30% stake to IIFL Wealth Management. [25] In 2020, it expanded its operations by establishing a wholly-owned subsidiary, Protean Account Aggregator Limited. [26]
It is a subset of EAN. Use of the JAN standard began in 1978. Originally, JAN was issued a flag code (EAN's number system) of 49. In 1992, JAN was newly issued an additional flag code of 45. In January 2001 the manufacturer code changed to 7 digits (9 digits including the flag code) for new companies. [9]
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The language code EL according to ISO 639-1, followed by 9 digits, which equal the Greek taxpayer registration number Α.Φ.Μ. (A.F.M.) of the company or of the sole proprietor, i.e.: "Arithmós Mētrṓou Phi-Pi-A" = "EL" + "A.F.M.". The last digit is a check digit inherent of the Α.Φ.Μ. Beware: Due to the great similarity of both numbers ...
Businesses whose turnover is below the threshold may register if they wish to. A GST-registered business must charge its customers GST on taxable goods and services it provides, but is entitled to a credit for any GST it has paid for its expenditures on these goods and services as well as capital purchases (called input tax credits).
The United Nations Standard Products and Services Code (UNSPSC) is a taxonomy of products and services for use in eCommerce. It is a four-level hierarchy coded as an eight-digit number, with an optional fifth level adding two more digits. The latest release (August 14, 2023) of the code set is 26.0801. [1]