What is HSN Code?

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)

IMD World Competitiveness Rankings 2019

India has moved up one place to rank 43rd most competitive economy in world in annual competitiveness rankings compiled by International Institute for Management Development (IMD). Key Highlights India: has moved one notch higher to 43th rank (from its 44th position in 2018, 45th in 2017 and 41st in 2016.) in terms of competitiveness worldwide. ..

Month: Current Affairs - May, 2019

Category: Reports & Indexes Current Affairs

Topics: Goods and Services Tax (GST) • IMD World Competitiveness Rankings • IMD World Competitiveness Rankings 2019 • International Institute for Management Development (IMD) Business School • Singapore Ranked First

Government issues Notification for roll out of GST

The government has notified the roll out of Goods and Services Tax (GST) from July 1st. Salient Facts To launch GST in the midnight of June 30th, the government has organised a special programme to be held in Central Hall of Parliament. The event will see the participation of President Pranab Mukherjee, Prime Minister Narendra Modi, Finance Minister Arun ..

Month: Current Affairs - June, 2017

Topics: Business • Current Affairs - 2017 • Economy • Goods and Services Tax (GST) • National • Taxation