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Penalty for HSN Summary

Ashish Jain (Student) (191 Points)

03 May 2021

What is the penalty for not reporting HSN Summary in GSTR-1 from April'2021? and Is there any Turnover limit for the same? Experts please guide.

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19 Replies

Mujeeb Doi (309 Points)
Replied 03 May 2021

Limit : below 5 crore Hsn upto min. 4 digits and for more than 5 crore HSN upto min. 6 digits needs to be mentioned.
Penalty, as per my view would be general penalty of rs. 25000/-

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ayusmita (Tax consultant) (5885 Points)
Replied 03 May 2021

With a turnover more than 50cr
and penalty of non maintenance will be of 50000
means 25000 for cgst and sgst each

CA Altamush Zafar (GST Consultant) (15986 Points)
Replied 04 May 2021

This penalty can get waived in certain circumstances

1 Like

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 04 May 2021

In case of non-mentioning or mentioning wrong HSN code under the Goods and Service Tax Act, the penalty of INR 50,000/- ( INR 25000/- for CGST and SGST each) shall be levied

RENU SHARMA (1388 Points)
Replied 04 May 2021

As per section 122 , non mentioning HSN code in tax invoice there is penalty for rs 25000 cgst and 25000 sgst

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Pankaj Rawat (GST Practitioner) (55057 Points)
Replied 06 May 2021

Yea agree with CA Zafar.
even though it's being mandatory by putting it under Rule 46 but as of today it can be impose only when goods being held by proper officer during transit.

Meenu (student) (36 Points)
Replied 30 August 2021

what will be the effect if I forgot to enter sac details of b2b transactions.I have filed only hsn wise b2b summary

CA Altamush Zafar (GST Consultant) (15986 Points)
Replied 30 August 2021

@ Meenu

What is your turnover?

Meenu (student) (36 Points)
Replied 30 August 2021

1877241.63 is the turnover for last year

CA Altamush Zafar (GST Consultant) (15986 Points)
Replied 30 August 2021

HSN or SAC for b2c not required

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Meenu (student) (36 Points)
Replied 30 August 2021

i have filed hsn details of b2b transaction bt i was not aware that we have to file service accounting code details of b2b transaction.i have not filed sac details for the past 4 months.

Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (7514 Points)
Replied 30 August 2021

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.