sir,
is HSN mandatory for annual return
thank in advance
Menu
HSN mandatory
Replies (5)
yes. it will be optional for tax payer having annual turnover up to 1.5cr. it will be mandatory to report hsn code at two digit level for taxpayers having annual turnover in the preceding year above 1.5cr but upto 5 cr and at four digits level for taxpayers having annual turnover above 5cr.
If the value of any procurement exceeds 10% of the total value of procurements in a FY, then the HSN wise details shall be mandatorily given in the Annual return for product exceeding 10% of the value.
HSN code may declared only for those inward supplies whose value independently accounts for 10% or more of the total value of inward supplies and for outward you have mention all in GSTR 9 this as per recommendation 31 st GST council meeting
please confirm
HSN details in GSTR 9 :
If Turn Over exceeding Rs 1.5cr then it's must as per any supplies exceeds 10% of the total value of supplies in a FY.
If Turn over less than 1.5cr then it's optional. Read the GSTR 9 instructions.
If Turn Over exceeding Rs 1.5cr then it's must as per any supplies exceeds 10% of the total value of supplies in a FY.
If Turn over less than 1.5cr then it's optional. Read the GSTR 9 instructions.
If Turnover is below 1.5 crore, HSN details are not mandatory it is only optional. If you are disclosing HSN details incase of inward supplies only those supplies exceeding 10% of total inward supplies in a FY need to be disclosed.(However HSN details of all outward supplies need to be disclosed)
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
