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  Overview on What are HSN Codes Harmonized System of Nomenclature (HSN) codes are an internationally accepted system for classifying and coding products in a standardized manner. These codes consist of numerical digits and are used to categorize products for taxation, trade, and statistical purposes. In India, HSN codes play a pivotal role in the Goods and Services Tax (GST) regime. Importance of HSN Codes in GST Compliance HSN codes are integral to GST compliance in India. They enable businesses to precisely determine the applicable tax rates and streamline the filing of GST returns. Proper classification of products using HSN codes is essential to ensure accurate tax calculations, reducing the risk of penalties and legal issues. How HSN Code Affects Your Business in India Understanding how HSN codes affect your business is crucial for several reasons: 1. Tax Accuracy HSN codes determine the GST rate applicable to your products. Using the correct code ensures that you pay the ri...

  Introduction In today's fast-paced global economy, businesses need to find innovative ways to accelerate their financial success. One such strategy that often goes underutilized is factoring.  Factoring plays a crucial role in export finance , offering benefits such as improved cash flow and reduced financial stress. In this blog, we'll delve into factoring, its various forms including invoice discounting, purchase order finance, and vendor financing, and introduce you to Credlix, a leading supply chain finance company in India. The Power of Factoring in Export Finance Exporting  goods to international markets can be a lucrative endeavor, but it often comes with its fair share of challenges, especially when it comes to cash flow management. Factoring is a financial tool that can be a game-changer for businesses  involved in export finance . Factoring Defined Factoring is a financial transaction in which a business sells its accounts receivable (invoices) to a third...