What is HSN Code?

Published: December 3, 2020

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 while issuing GST invoice. The move is expected to reduce tax evasion. HSN or Harmonized System of Nomenclature code is a system for classification of goods across the ..

Month: Current Affairs - December, 2020

Category: Economy & Banking Current Affairs

Topics: CBIC • Central Board of Indirect Taxes and Customs • Globally Harmonised System for classification and labelling • Goods and Services Tax (GST) • GST • HSN • World Customs Organization (WCO)

Safety of explosives at warehouses in India being checked

Published: August 7, 2020

The Central Board of Indirect Taxes and Customs has directed the field offices to verify within 48 hours that all explosive materials lying in Customs warehouses and ports are compliant with the safety standards as required and also that they should not pose any kind of danger to the lives of common people. This step ..

Month: Current Affairs - August, 2020

Category: India Nation & States Current Affairs

Topics: Beirut Blast Case • CBIC • Central Board of Indirect Taxes and Customs • Explosives • Warehouses

CBDT and CBIC Sign MoU for Exchange of Data

Published: July 21, 2020

A memorandum of understanding has been signed between the Central Board of Direct Taxes and the Central Board of Indirect Taxes and Customs in order to ensure the smooth exchange of data between the two organizations. This was signed in the presence of the chairman of both the organizations along with other senior officials. It ..

Month: Current Affairs - July, 2020

Category: Economy & Banking Current Affairs

Topics: CBDT • CBIC • Central Board of Direct Taxes • Central Board of Indirect Taxes and Customs • data sharing • Exchange of Data

Second National GST Conference of Central and State Tax Commissioners held

Published: January 8, 2020

On January 7, 2020, the second National GST Conference and Central and State Commissioners was held to streamline the Goods and Services Tax. The Revenue Secretary of Ministry of Finance Dr Ajay Bhushan Pandey was the Chairman of the conference Key Takeaways A Committee is to be constituted with central and state officers. The Committee ..

Month: Current Affairs - January, 2020

Category: Economy & Banking Current Affairs

Topics: CBDT • CBIC • Central GST • CGST • GSTN • SGST • State GST • Tax

7 December: GST Stakeholder Feedback Diwas

Published: December 8, 2019

The central and state authorities organised GST (Goods and Services Tax) Stakeholder Feedback Diwas on 7 December 2019. The aim of organizing this event was to get an on-the-spot response and suggestion to the new system for filing GST Returns to be introduced from next fiscal year. The new return form will be made mandatory ..

Month: Current Affairs - December, 2019

Category: Important Days & Events in Current Affairs

Topics: CBIC • Central Board of Indirect Taxes and Customs • CGST • GST • GST Stakeholder Feedback Diwas • National Conference on GST • Nirmala Sitharaman

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