Taxation · HSN System
Given below are two statements: one is labelled as Assertion (A) and the other as Reason (R). Assertion (A): HSN is an internationally accepted commodity description and coding system. Reason (R): India follows an 8-digit HSN system for detailed classification of goods for trade and tax purposes. In light of the above statements, choose the correct answer:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) is false but (R) is true
- 2(A) is true but (R) is false
- 3Both (A) and (R) are true but (R) is NOT the correct explanation of (A)
- 4Both (A) and (R) are true and (R) is the correct explanation of (A)✓
Correct answer
Both (A) and (R) are true and (R) is the correct explanation of (A)
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