📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Which statement accurately identifies the distinction

      between HSN and SAC codes under GST? 
      A HSN handles import/export tracking, while SAC handles domestic compliance. Correct Answer Incorrect Answer
      B HSN is used for classifying goods, while SAC is used for classifying services. Correct Answer Incorrect Answer
      C HSN requires an 8-digit structure, while SAC requires a 2-digit structure. Correct Answer Incorrect Answer
      D HSN maps to B2B business operations, while SAC maps to B2C consumer bills. Correct Answer Incorrect Answer
      E HSN is utilized by regular taxpayers, while SAC is utilized by composition scheme filers. Correct Answer Incorrect Answer

      Solution

      The fundamental structural difference is their application: HSN codes are meant for products/goods, while SAC codes are assigned to service-based transactions.

      Practice Next
      More Financial Management Questions

      Relevant for Exams:

      ask-question