Harmonised System Nomenclature is used to name, organize and categorize products for taxation purposes. It is used internationally and is provided by the World Customs Organisation.
GST, a unified tax regime for indirect taxes. This is perhaps the biggest tax reform in the regime of indirect taxes as it succeeds a number of indirect taxes that are applicable under the current regime.
The taxation framework in India is about to experience a radical shift once the GST (Goods and Services Tax) system takes over.
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