HSN , SAC and UQC Code Meaning

HSN Code Meaning 

HSN code means harmonized system of Nomenclature ( for remembering point, it is har saleable commodity ka number code ) . It was developed by WCO ( world customs organization ) . It is six digit code and classify all 5000+ physical products which are bought or sell internationally.

If you are making tax invoice under GST, you need to  mention your HSN Code but it applies only larger traders.

By coming HSN code, it will save, time energy for writing detailed description of goods.

 For import and export of goods, HSN code will be 8 digit, if annual turnover is 5 crore, HSN code is of 4 digit

If annual turnover is between 1.5 to 5 crore, it will be 2 digit

If annual sale is less than 1.5 crore, there is no need of HSN code

SAC Code Meaning

SAC code means service accounting code. In simple words, there is unique code of each salable service. Every saleable physical product code is under HSN and every saleable service is under SAC. It is very helpful to identify and classify and organize large number of sales. This code has 6 digits. 

UQC Code Meaning

UQC means unique quantity code. Never confuse it with HSN. UQC means there will a unique unit of measurement like kg, litre and metre etc

All above are now important to manage GST.