CLASSIFICATION OF GOODS AND SERVICES

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..... as per the HSN (Harmonised System of Nomenclature) code system or SAC (Services Accounting Code) system. 7.3. HSN code number is an internationally adopted commodity description and coding system developed by the World Customs Organization (WCO). With the HSN code acting as a universal classification for goods, it is adopted for classification of goods under GST and levy of GST. 7.4. There is no .....

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..... ng six GST rate slabs are presently applicable for goods - (i) 5% (2.50% CGST + 2.50% SGST) in respect of goods specified in Schedule I of the Notification, (ii) 12% (6% CGST + 6% SGST) in respect of goods specified in Schedule II of the Notification, (iii) 18% (9% CGST + 9% SGST) in respect of goods specified in Schedule III of the Notification, (iv) 28% (14% CGST + 14% SGST) in respect o .....

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..... the rate of tax for some construction services is 1.50% and 7.50%, subject to fulfilling the conditions prescribed. 7.9. The explanatory notes published by GST Council indicate the scope and coverage of the heading, groups and service codes of the Scheme of Classification of Services, which can be used as a guiding tool for classification of services. 7.10. The rates applicable to any goods or s .....

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