if my firm turnover is 2 cr then all hsn sumnary mandatory or only b2b hsn mandorry
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Quick Summary
This discussion clarifies the mandatory requirements for HSN (Harmonized System of Nomenclature) codes on tax invoices. For businesses with an aggregate turnover up to £5 crores in the preceding financial year, 4-digit HSN codes are mandatory for all B2B invoices. However, for B2C invoices, the use of 4-digit HSN codes is optional.
The Taxpayers whose aggregate Turnover is up to Rs. 5 crores in the preceding Financial Year HSN / SAC code of 4 digits is mandatory for all the B2B tax invoices and optional for B2C tax invoices on the supplies of Goods and Services.08-Apr-2021