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HSN MANDATORY FROM 01.04.2021

10 May 2021

HELLO FRIENDS

I FILED GSTR-1 OF APRIL 2021 WITHOUT DISCLOSING HSN SUMMARY. WILL I BE PENALISED. IF YES, THEN HOW MUCH. OR IS THERE ANY WAY TO RECTIFY THE GSTR-1.

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16 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 10 May 2021

What is your turnover??

Abhinav Jain (29 Points)
Replied 10 May 2021

Less than 1 crore in FY 2020-21

CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 11 May 2021

HSN code not required in this case

HARSHIL JAIN (MD) (334 Points)
Replied 11 May 2021

When you file your quarterly return at that time you have to mention your Supplies according to HSN values as well

HSN is mandatory from New F.Y.

Abhinav Jain (29 Points)
Replied 11 May 2021

We are filing on monthly basis

Abhinav Jain (29 Points)
Replied 11 May 2021

My concern is.....GSTR-1 is filed without mentioning HSN Summary in the respective column.....No doubt all my sale invoices already have HSN Code mentioned.......Will i be penalised by GST Deptt for non mentioning of HSN Summary is GSTR-1

HARSHIL JAIN (MD) (334 Points)
Replied 11 May 2021

I think you might have filed gstr1 Iff
in that there is no option of mentioning HSN
when you will file gstr1 for this quarter at that time you will have option of mentioning HSN

so while filing gstr1 quarterly return dont fail to mention hsn.

Abhinav Jain (29 Points)
Replied 11 May 2021

no sir we are filing it on monthly basis....i had exercised monthly option......Its not GSTR-1 IFF....Its plain GSTR-1

HARSHIL JAIN (MD) (334 Points)
Replied 11 May 2021

Open gst portal and check for filing page of gstr1 of may month
is it showing you to mention HSN wise summary ?

Abhinav Jain (29 Points)
Replied 11 May 2021

checked....it shows HSN Code Summary Columnar

CA Aniruddh Barve (Proprietor) (57 Points)
Replied 11 May 2021

Hi Abhinav,

HSN summary in GSTR -1 is mandatory only if your T/O in previous financial year exceeds 1.5cr.

The amendment notification talks about mentioning HSN code on invoice, and not for HSN summary in the GSTR 1.

Reference -

15/10/2020 Notification -

https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-78-central-tax-english-2020.pdf

Original 28/06/2017 notification which is now amended -

https://cbic-gst.gov.in/pdf/central-tax/notfctn-12-central-tax-english.pdf

Let me know if I m missing any notification, as per my knowledge there is no notification amending or mandating HSN summary for <1.5cr.

Kindly Hit like if this helps.

Thanks,

Aniruddh Barve

1 Like

CMA Poornima Madhava (CMA) (13097 Points)
Replied 11 May 2021

W.e.f. 1st Apr 2021, taxpayers having turnover up to Rs.5 cr and making B2B supplies are compulsorily required to furnish 4-digit HSN/SAC on invoice (as well as GSTR1). General penalty of Rs.50,000 for non-compliance, in case you receive notice from the dept.

I think you may be able to amend in the subsequent return but am not sure about this.

CA Aniruddh Barve (Proprietor) (57 Points)
Replied 11 May 2021

Originally posted by : CMA Poornima Madhava
	W.e.f. 1st Apr 2021, taxpayers having turnover up to Rs.5 cr and making B2B supplies are compulsorily required to furnish 4-digit HSN/SAC on invoice (as well as GSTR1). General penalty of Rs.50,000 for non-compliance, in case you receive notice from the dept. I think you may be able to amend in the subsequent return but am not sure about this.