HSN code and its Taxation

ERPNext Stock/Inventory
1

what is HSN code Taxation? how does it depend?

2

Hi @Sindhu_Dhanushkodi,

HSN code is a number used to categorize the products you sell. It’s important for calculating taxes, especially under GST in India. You need to include this code on your invoices.

The government has specific rules about how many digits the code should have on your invoices, depending on your business turnover. This helps ensure accurate tax calculations and reporting.

I hope this helps.

Thank You!

1 Like
3

Thanks a lot for your response. your answer was helpful to me.
Can you please give more information regarding the relationship between the HSN code and the taxes?

4

Hi @Sindhu_Dhanushkodi,

HSN code is like a label for the products you sell. It helps the system figure out how much tax to apply to each product. This label ensures that your tax calculations are correct, which is important for following tax laws and avoiding mistakes in your financial records.

Please check the documentation of the GST Feature.

I hope this helps.

Thank You!

1 Like
5

Now I understand much better. thank you

6

What is Incoterm? why do we use it in ERPNext? can you please
tell me?

7

Hi @Sindhu_Dhanushkodi,

Please check the documentation for it.

Thank You!

1 Like
8

thank you

9

can you please differentiate lead, prospect, opportunity, and customer?

10

Hi, you can learn about those here: ERP Customer Relationship Management (CRM)

1 Like
11

Thank you