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🧠Jewellery Software GST MCQ Quiz
Do you know which tax component Indian jewellery software must strictly comply with?
💡 Test your GST knowledge and comment your answer below 👇 Correct compliance = Smooth billing + Zero tax issues.
🔹 A) VAT 🔹 B) TDS only 🔹 C) GST with HSN codes 🔹 D) Service Tax
📢 Answer will be revealed soon. Stay tuned!
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Piyush Goyal Unveils HSN Codes for a Data-Driven Economy
Union Minister of Commerce and Industry Piyush Goyal has released a new Guidebook on Mapping of Harmonised System of Nomenclature (HSN) Codes. The guidebook has been prepared by the Department for Promotion of Industry and Internal Trade (DPIIT). It was unveiled during the "Celebrating 10 Years of Make in India and Discussion on Next Gen-Reforms 2.0" event on September 20, 2025, in New Delhi. This landmark document provides a definitive allocation of 12,167 HSN Codes to 31 different Ministries and Departments of the Government of India. This extensive exercise aims to promote a data-driven approach for manufacturing development, investment promotion, and trade facilitation. It lays the groundwork for a more resilient and competitive industrial ecosystem. Streamlining Governance and Trade Negotiations Through HSN codes The release of this guidebook is a strategic move to address long-standing challenges in trade negotiations and domestic production. HSN codes are an internationally recognised system for classifying goods, but the absence of a clear-cut ownership of these codes within the Indian government has often led to delays and inefficiencies. The DPIIT tackled this by conducting a thorough value-chain and use-case analysis for each code, ensuring a systematic and accurate mapping. Shri Goyal emphasised that this new resource is a significant stride towards strengthening domestic production and fostering sectoral growth. By clearly identifying which ministry is responsible for a particular product, the guidebook will streamline regulatory processes and significantly enhance the ease of doing business. The Minister highlighted that this initiative will play an integral role in achieving the vision of a Viksit Bharat@2047, where governance is highly responsive to the needs of the industry. The guidebook will also support more effective trade negotiations that are aligned with national economic priorities and domain strengths. It w helping India's products gain a greater share in international markets.
A Collaborative and Strategic Effort The development of the guidebook was a massive, consultative effort. It involved a comprehensive review of the Allocation of Business (AoB) Rules, 1961, multiple inter-ministerial consultations, and over 300 one-on-one meetings with ministries and departments. Extensive feedback from numerous industry stakeholders was systematically analysed and incorporated to ensure the guidebook reflects ground-level realities. This collaborative approach culminated in a foundational resource that goes beyond a mere classification exercise. The guidebook is designed to be a practical tool, featuring a dedicated section titled "How to Use the Guidebook?" This section is anchored in three operational pillars. "Manufacture in India" focuses on positioning the country as a global manufacturing hub. "Strengthen Brand India" aims to elevate the global perception of the 'Made in India' label. Make for the World" is dedicated to supporting more effective trade negotiations. By streamlining the custodianship of products, this strategic instrument will empower ministries to adopt an outcome-oriented approach. It will ransform India's industrial ambitions into international leadership and a robust, future-ready economy.
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