HSN code mendatory or not
praveen (intermediate) (298 Points)
04 August 2021thank you in advance
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 04 August 2021
prasad Nilugal
(3909 Points)
Replied 04 August 2021
Nidhi
(Chief Accountant)
(3150 Points)
Replied 04 August 2021
Ankita Jain
(CA in practice)
(185 Points)
Replied 04 August 2021
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 04 August 2021
The dept can impose general penalty but the chances are less I think. Hereafter ensure to include 4 digit HSN code at least in respect of B2B transactions
praveen
(intermediate)
(298 Points)
Replied 04 August 2021
Imthias ahamed Kormath
(910 Points)
Replied 04 August 2021
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(3293 Points)
Replied 04 August 2021
The mandatory reporting of HSN codes was introduced while preparing the GSTR-1 return from 1st April 2021. As per the revised declaration, taxpayers with an annual aggregate turnover of more than Rs. 5 crore must mandatorily declare six digits of the HSN code on all the tax invoices.
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