What is the HSN code?
HSN stands for Harmonized System of Nomenclature and is used
to classify goods in a systematic manner. It was developed by the World Customs
Organization (WCO) and is considered the global standard when it comes to
naming goods.
This 6-digit uniform code can be used to classify more than
5,000 products, and are also used for classification for tax purposes.
Used by more than 200 countries over the world, this code
classifies over 98% of the goods that are available in the world.
What about SAC?
SAC stands for Servicing Accounting Code and is used to
classify services instead of goods. All services tend to begin with the number
99, which is what identifies the code as a SAC and not an HSN.
For clarity, let’s look at this SAC- 99.82.13. Here, the 99
represents all services in general. 82 classifies this as legal services and
the 13 classifies it as legal documentation for patents.
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