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HSN code
is HSN code only for turnover 1.5 crore above or its memdetory for all dealer no turnover metters ???
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Under GST, the majority of dealers will need to adopt two-, four-, or eight-digit HSN codes for their commodities, depending on their turnover the previous year.
- Businesses with turnover of less than Rs 1.5 crores will not be required to use HSN codes for their commodities.
- Businesses with turnover between Rs 1.5 crores and Rs 5 crores shall be required to use two-digit HSN codes for their commodities.
- Businesses with turnover equal to Rs 5 crores and above shall be required to use four-digit HSN codes for their commodities.
- Dealers under composition scheme will not be required to mention HSN codes in their invoices.
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