The goods and service tax is a major contributor in the upbringing of the economy. As it is supposed to bring some higher compliance and changes which are destined to prove healthy adaptation within the tax ecosystem. It is speculated that in the new tax system, tax evasion, ease of interstate business, simple tax compliance, a huge increase in tax base and reductions in prices have been expressed and due to its technology being operated, more transparency will come.
GST helpline application is a mobile application for GST. It has been developed by SAG Infotech PVT. LTD. based out in Jaipur, India. The application has been made to run smoothly on both Android and iOS platforms. It is available on Google play store over android devices (OS Version 4.0 and above). The GST helpline app offers secure login feature along with wide range of information on GST India.
What is HSN Code and Why is it Used?The people have been trying to learn as much as possible about the new Tax system to be able to properly understand and accept it. While reading about GST, you must have often heard the term “HSN/SAC code” and wondered what it is. You can learn here everything about HSN and SAC codes and their applications.
SAC (Service Accounting Codes) which is used for identification of the services and is adopted by the CBEC (Central Board of Excise and Customs).
What is HSN Code and SAC Code?Under the GST system, each supply invoice has to mention the unique HSN code relevant to each product or SAC code for each service offered. HSN (Harmonized System of Nomenclature) is an international product coding system used for classification of goods. A unique HSN code is assigned to each saleable item or product in this coding system. All trading goods are classified into various chapters with each section containing goods of similar type. There are over 5,000 product categories in this system, each recognized by a unique 6-digit code. Similarly, every service category is also given a unique SAC code for identification.
What is the Need for HSN Coding System?
HSN is an international product coding system defined by the World Customs Organization (WCO) for a general classification of goods and products. It helps to identify specific products which may have different names in different languages. This is particularly useful for the international transaction of products.
HSN system is used by different tax structures in over 200 countries, including the GST system in India for international and internal tax management. The HSN system has made easier the harmonization of trade and tax procedures for the international trade.
SAG Infotech recently introduced its ambitious Gen GST software at the Pinkcity press club also covered by the public reading newspaper Pressvani. In order to move forward in its endeavor to provide the best service to its client and to keep the focus on the financial platform of the companies long term legacy in expert professional solutions.
The managing director Mr. Amit Gupta unveiled the Gen GST software to the respective invitees and media present over the occasion. And also mentioned the GST helpline which is a very popular app among the Android and iOS platforms known for its informational features.It can be downloaded directly from Google play store on android devices (Version 4.0 and above).
GST has been implemented from July 1, 2017 in India. The active govt believes that GST will be a prominent step to boost the Indian economy.
In the same raw, to make GST more understandable for the public as well as professionals, a Jaipur-based taxation software company, SAG Infotech Pvt. Ltd. has developed a GST Helpline Mobile App. The app is designed to run on both the popular platforms, i.e., Android and iOS.