HSN MANDATORY FROM 01.04.2021

This discussion addresses concerns about the mandatory HSN summary requirement in GSTR-1 filings from April 1st, 2021. While HSN codes are mandatory on invoices for businesses with turnover up to Rs. 5 crore making B2B supplies, the requirement for an HSN *summary* in GSTR-1 itself depends on the previous financial year's turnover. For turnovers below Rs. 1.5 crore, HSN summary in GSTR-1 may not be mandatory, but clarification is sought regarding potential penalties for unintentional omissions and the possibility of rectifying the return.