is hsn code mandatory for turnover less than 1.5 crore w.e.f -01.04.21
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Quick Summary
For businesses with a turnover up to Rs 5 crore, a 4-digit HSN code is mandatory for Business-to-Business (B2B) transactions. However, for Business-to-Consumer (B2C) transactions, the use of HSN codes remains optional. This rule has been in effect since April 1st, 2021.
Yes, up to turnover of Rs.5 cr, 4-digit HSN code is mandatory in respect of B2B transactions. In other words, it is optional in respect of B2C transactions.