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Turnover below 1.5
Not mentioned SAC in GSTR 1 for the month of April'21 and May'21. Turnover is below 1.5 Crores. Please confirm whether any penalty will be levied for this?
Replies (3)
From 1.4.2021, it is compulsory to mention HSN/SAC code on invoices issued to B2B customer for entity's with turnover up to Rs.5 crores. Non-furnishing HSN in GSTR-1 might attract a general penalty of maximum Rs.25,000 each for CGST and SGST-Section 125
Yes, penalty can be levied by the department but the chances are less I think. Just ensure to include HSN code from now onwards.
At present no penalty is being charged but ensure compliance from next return.
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