Quick Summary
GST E-Invoice System Update: Mandatory Inclusion of 6-Digit HSN Code for High-Turnover Taxpayers Goods and Services Tax (GST) E-invoice system has introduced a crucial update that will impact taxpayers with an Aggregate Annual Turnover (AATO) of 5 Crore and above. As of the latest update on Decem
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
Taxpayers with an Aggregate Annual Turnover (AATO) of 5 Crore and above are required to use the 6-digit HSN code.
The mandate for using a minimum of 6 digits of the HSN code on e-invoices comes into effect from December 15th, 2023.
HSN stands for Harmonized System of Nomenclature, which is a standardized international system for classifying products.
The change aims to enhance transparency, streamline the tax reporting process, and improve the accuracy and efficiency of the GST framework by capturing more detailed transaction information.
Businesses falling within the specified turnover range should update their invoicing systems to ensure they can generate e-invoices with the required 6-digit HSN code.
CAclubindia
