Add HSN Code On GST Portal
In the modern world, understanding HSN Code is crucial. HSN codes are utilized globally by more than 200 nations to categorize almost 5000 commodities uniformly. As a result, it is necessary to add HSN code on GST portal to standardize and simplify transactions. You will understand further about HSN codes, the GST Portal, and how to add HSN codes on GST Portal in the article that follows.
Describing HSN Code
The abbreviation HSN is the Harmonised System of Nomenclature. The World Customs Organization introduced the HSN Code system for the orderly categorization of various commodities. It is a unique 6-digit code that is accepted all over the world.
Importance of HSN Code
It is critical to add HSN Code on GST portal for GST products. HSN codes are primarily used to classify commodities systematically and make GST globally applicable. This facilitates global trade and helps ensure uniformity of the products.
The use of HSN codes simplifies the process of filing GST returns by eliminating the need to upload a detailed report of each product. Therefore, it is time-saving to add HSN code on GST portal.
Who needs to add HSN code on GST portal?
HSN codes are not required by taxpayers with annual turnovers under Rs 1.5 crores.
Companies with a turnover between Rs.1.5 crores and Rs.5 crores annually are required to have a two-digit HSN code on their products.
Businesses with more than Rs.5 crores turnover in the financial year use a 4-digit HSN code.
Under reverse charge in GST, individuals who pay taxes must also add HSN code on GST portal.
Non-resident and casual individuals who pay tax for supplying commodities.
How to add HSN code on GST portal?
HSN codes enable a standardized classification of commodities and make Goods and Service Tax(GST) universally accepted. Hence, it is crucial to add HSN code on GST portal. The following step can be followed to add HSN code on GST portal.
- Firstly, you need to open the official website of the GST portal.
- The correct credentials must be used to log in.
- To access User Services, go to ‘Services’ followed by ‘User Services’.
- Once that’s done, you must click on ‘Search HSN Code’.
- After this you will get options to search by:
- HSN
- Description
- Select the ‘search by HSN option”
- Under the ‘Search HSN Chapter by Code’, you can enter the digit you are looking for.
- You will get a captcha box to enter the given captcha.
- After entering the captcha successfully, you can go to the ‘search’ option and click on it. The list of products would pop up.
- Finally, you enter the relevant HSN code for your commodity by using the editor or importing it into a CSV file.
Add HSN code on GST portal after GST registration
It is possible to add HSN code on GST portal even after registering for GST. You can add HSN code on GST portal by following the steps to modify the non-core fields. Changes to non-essential fields are automatically authorized after a satisfactory taxpayer declaration and are not required to be treated by the tax authorities.
GST Portal
The GST Portal is the official site for taxpayers to pay the tax online. The main site of the government for the GST portal, which is used to conduct GST-related transactions, is https://www.gst.gov.in/. It is also utilized to add HSN code on GST portal in order to assure product conformity.
The GST Portal is the official site for taxpayers to pay the tax online. The main site of the government for the GST portal, which is used to conduct GST-related transactions, is https://www.gst.gov.in/. It is also utilized to add HSN code on GST portal in order to assure product conformity.
When you go to the GST portal’s main site, you can have access to the following sections:
- Home
- Services
- GST Law
- Downloads
- Search Taxpayer
- Help and Taxpayer Facilities
- e-Invoice
Services available via the GST Portal
- Registration: The GST portal’s ‘Service’ option includes a registration selection. It further has three options-
- New Registration: Any company that applies for the very first time on the GST portal needs to choose this option to register their business.
- Track Application Status: You have the option to see the progress of your enrollment using this service.
- There is another option in which an application for clarification can be filed.
- Payments: You can make use of the following tools underneath the “Payments” category of the “Service” tab:
- Create a Challan: You must first obtain a Challan before delivering your pay to the government.
- Track Payment Status: Tracking payment status allows you to keep track of your payment activities.
- Grievance against Payments(GST PMT-07): You may use this option to submit your grievance if you have any.
- User Services- The following options are available under this tab:
- Search HSN Code- Under this option, you will be able to add HSN code on GST portal.
- Holiday List
- Generate User ID for Unregistered applicants
- Locate GST Practitioner (GSTP)
- Cause List
- Search BOE
- Search Advance Ruling
- Refunds: You can monitor the progress of your refund application through this service.
- e-Way Bill System: Transporters use the e-Way bill, also referred to as the electronic way bill, while transferring commodities within a state or between states.
- Track Application Status: With the help of this application, you have the choice of keeping tabs on the progress of your registration and refund requests.
Registration process on the GST portal
- You must visit the GST’s official website and select “New Registration” from the “Service” option in order to register for GST online.
- After which you will add your personal details and then go to the ‘Proceed’ option.
- Your enrolled phone number will receive an OTP which will be utilized to obtain the Temporary Reference Number (TRN).
- Return to “New Registration” and this time enter the TRN.
- Through the “Verification” menu, you can amend your application, upload the requisite documents, and then submit it.
- Later on, you may monitor the status of your application by using the GST application registration number.
Business Expert
Book free end-to-end experts consultation with Odint finance and legal experts
GET EXPERT
ASSISTANCE
Conclusion
In-depth instructions on how to add HSN code on GST portal are provided in the article that precedes. The article also provides a description of the GST portal and illustrates how new registrants can successfully sign up through the GST portal.
You can speak with Odint Consultancy if you have any additional questions, and they will walk you through the procedure.
FAQ’s
HSN codes are used to classify diverse goods in an organized manner.
HSN codes need to be mentioned when an individual applies for GST, generates invoices, and files GST returns that should be submitted in the GST portal.
The following can occur if HSN codes are omitted or entered incorrectly:
- The invoice will be regarded as invalid.
- The buyer won’t be able to profess input tax credit.
- A fine of RS 25,000 will be charged for erroneous invoicing.
- Businesses with yearly revenue of less than 1.5crores are not needed to use HSN codes.
- Additionally, companies enrolled under the Composition Scheme are exempt from including HSN numbers on their invoices.
