REGARDING HSN CODE

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ca ipcc
313 Points Posted on 27 June 2020
Hi everyone, Turnover is below 40 lakh whether HSN code is mandatory while filing GSTR1?
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On 27 June 2020 at 10:53 Report
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This discussion clarifies whether HSN codes are compulsory for GSTR1 filings when annual turnover is below 40 lakh. While optional for businesses up to 1.50 Cr, taxpayers must still provide a description of goods. The consensus is that 'description of goods' refers to the rate of tax.

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CA Student
15932 Points Posted on 27 June 2020

Optional for taxpayers having annual turnover upto Rs. 1.50 Cr but they need to provide information about descripttion of goods.

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On 27 June 2020 at 12:51
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ca ipcc
313 Points Posted on 27 June 2020
Sir, descripttion of goods means? Is that rate of tax wise?
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On 27 June 2020 at 14:37
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4215 Points Posted on 28 June 2020
Yes rate of tax
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On 28 June 2020 at 12:07

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