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HSN Code
December 8 , 2020
1452 days
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- The Central Board of Indirect Taxes and Customs (CBIC) has made it mandatory to mention the 8-digit HSN code in tax invoices for 49 chemical-based products.
- The move is expected to reduce tax evasion.
- HSN or Harmonized System of Nomenclature code is a system for classification of goods across the world.
- The code is called the universal economic language for goods.
- It was developed by the World Customs Organization.
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