Decoding the Central Goods and Services Tax (Second Amendment) Bill, 2023: A Step Towards Streamlining GST AppealsThe Goods and Services Tax (GST), introduced in 2017, transformed the Indian taxation landscape. However, one crucial aspect remained incomplete: the establishment of dedicated GST Appellate Tribunals. To address this gap, the Central Goods and Services Tax (Second Amendment) Bill, 2023, was recently passed in the Lok Sabha, paving the way for smoother resolution of GST-related ...
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Introduction:In the realm of taxation, the Harmonized System Nomenclature (HSN) code and Service Accounting Code (SAC) hold significant importance in India. These classification systems play a crucial role in categorizing goods and services for taxation purposes under the Goods and Services Tax (GST) system. In this blog post, we will delve into the differences between HSN and SAC codes, shedding light on their structures and applications.HSN Code for Goods:The HSN code is a global system ...
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