NammaBill
GST introduced HSN (Harmonized System of Nomenclature) for goods and SAC (Services Accounting Code) for services.
Why are they needed?
They classify goods globally. This brings uniformity. 'Milk' is identified by the same code internationally.
Mandatory Requirement
For businesses with turnover up to 5 Crores, a 4-digit HSN is required on B2B invoices. For above 5 Crores, a 6-digit HSN is needed.
Finding the Right Code
Using the wrong code is a compliance risk. NammaBill's database allows you to search by product name and automatically applies the correct HSN and GST rate.
Input Tax Credit
If your supplier puts the wrong HSN on your bill, your ITC claim might be rejected. Always verify incoming invoices.