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The HSN is a multipurpose international product terminology acknowledged by the World Customs Organization. The purpose of using the HSN codes is to ensure that GST billing practices are in accord with international standards of product nomenclature.
HSN code of 4 digits for goods: Though internationally HSN code is of 6-8 digits but in our context HSN code of 4 digits will be mandatory initially for taxpayers having turnover more than 5 crore. Turnover will be taken on self declaration basis for IST year and afterwards turnover of previous year shall be used.