Q 21. How will the goods and services be classified under GST regime?


Ans. HSN  (Harmonised  System  of  Nomenclature)  code shall be used for classifying the goods under the GST regime. Taxpayers whose turnover is above Rs. 1.5 crores but below Rs. 5 crores shall use 2 digit code and the taxpayers whose turnover is Rs. 5 crores and above shall use 4 digit code. Taxpayers whose turnover…

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