WHETHER 6 DIGITS HSN IS COMPULSORY

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..... WHETHER 6 DIGITS HSN IS COMPULSORY
Query (Issue) Started By: - SAFETAB LIFESCIENCE Dated:- 16-10-2020 Last Reply Date:- 6-11-2020 Goods and Services Tax - GST
Got 5 Replies
GST
Dear Experts, We hear through freinds whether we have to mention 6 digits HSN from 15.10.2020 onwards if our TO is more than 5.00 Crores Reply By Rajagopalan Ranganathan: The Reply: Sir, As per Notificatio .....

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..... n No. 78/2020 - Central Tax dated 15.10.2020 and Notification 06/2020-Integrated Tax dated 15.10.2020 4 Digits of Harmonised System of Nomenclature Code (HSN Code) is to be indicated up to a turnover of ₹ 5 Crores and 6 Digits of Harmonised System of Nomenclature Code (HSN Code) is to be indicated where the turnover is more than 5 Crores. Reply By Rajagopalan Ranganathan: The Reply: Sir, .....

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..... The effective date for implementation of this is 01.04.2021 Reply By YAGAY andSUN: The Reply: Revised Requirement of declaring HSN for goods and SAC for services in invoices and in FORM GSTR-1 w.e.f. 01.04.2021 as under: HSN/SAC at 6 digits for supplies of both goods and services for taxpayers with aggregate annual turnover above ₹ 5 crores; HSN/SAC at 4 digits for B2B supplies of both g .....

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..... oods and services for taxpayers with aggregate annual turnover upto ₹ 5 crores; Government to have power to notify 8 digit HSN on notified class of supplies by all taxpayers Reply By Ganeshan Kalyani: The Reply: Sir, it is to be followed w.e.f 01.04.2021. Reply By Bhavika Chothani: The Reply: HSN/SAC is based on turnover. If your turnover is more than 5 crores than 4 digit HSN is mandat .....

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..... ory
Discussion Forum - Knowledge Sharing .....

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