Commodity code and HSN code

[former_member676959]

Could anyone please help to understand the meaning and differences between
1)Commodity code

2)HSN code

3)SAC code

[p391977]

1) Commodity code

Commodity codes are a classification system for goods and services. There are a variety of emerging global standards for classification systems. Many corporations also have proprietary systems associated with legacy data.

2)HSN code

Harmonised System of Nomenclature code

HSN stands for Harmonised System of Nomenclature code. This is a 6-digit code that classifies various products. Manufacturers, importers and exporters have been using HSN codes for a long time now. The HSN code contains 21 sections. These are divided into 99 chapters which are divided into 1244 sections.

It is for goods or it is simply Chapter ID or Control Code.

3)SAC code

Servicing Accounting Code

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.

Regards.

Radheshyam P.