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Components of Tax Invoice

Which code is...

Question

Which code is known as universal economic language for goods?

A

HSN

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B

SAC

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C

VAT

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D

PAN

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Solution

The correct option is A HSN
Services provided to people are classified and special code numbers are given to them. These codes are called SAC or Service Accounting Code. Similarly, goods are classified by giving them numerical codes called HSN codes. It stands for Harmonized System of Nomenclature.

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