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Turnover based HSN code mechanism introduced under GST HSN (Harmonised System of Nomenclature) is an internationally accepted product coding system formulated under General Agreement on Tariffs and Trade (GATT). In India, currently, adapted HSN coding is currently used under Excise and Customs for classification of products.
Dealers with turnover equal to Rs 5 crores and above shall be required to use four-digit HSN codes for their commodities. In the case of imports/exports, HSN codes of eight digits shall be compulsory, as GST has to be compatible with international standards and practices.