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

Question 20 – Draft-Bills-Reports – Overview of Goods and Services Tax (GST) – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 20 – Q 20. 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 ₹ 1.5 crores but below ₹ 5 crores shall use 2 digit code and the taxpayers whose turnover is ₹ 5 crores and above shal

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