COmposition Dealer not need to Quote HSN

This query is : Resolved

Somasundaram S (Querist)
Follow

13 November 2022 Notification No. 78/2020 – Central Tax dated 15th October 2020 introduced new HSN disclosure norms with effect from 01st April 2021 as follows—

Aggregate Turnover in the preceding Financial Year

No of Digits of HSN Code

Below Rs 5 crores 4 (Not required for B2C invoices)

Above Rs 5 crores 6

Taxpayers whose turnover is less than Rs. 1.5 crore are also required to mention HSN code in invoice issued w.e.f. 01.04.2021. However as per proviso of notification No.12/2017–Central Tax] Dated: June 28, 2017 quoting of HSN code is not required in case of B2C invoice.

HSN requirement is applicable on issuance of Tax invoice only. Therefore, in case of composition dealers and sale of exempted goods, there is no requirement of mentioning HSN code as bill of supply is issued in these cases instead of Tax invoice.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

13 November 2022 Correct. Otherwise also dealer having turnover above 1.50 Crs, is not eligible for composition scheme...

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

HITESH NIRANJAN SAHU

REGIWISE CONSULTANTS PVT LTD

R M Shekhaliya

CA Aakarsh Jain

SUMAN SAHA

Subscribe Now

COmposition Dealer not need to Quote HSN

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA