WHETHER 6 DIGITS HSN IS COMPULSORY

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..... Dear Experts, We hear through freinds whether we have to mention 6 digits HSN from 15.10.2020 onwards if our TO is more than 5.00 Crores - Reply By Rajagopalan Ranganathan - The Reply = Sir, As per Notification No. 78/2020 Central Tax dated 15.10.2020 and Notification 06/2020 Integrated Tax dated 15.10.2020 4 Digits of Harmonised System of Nomenclature Code (HSN Code) is to be indicat .....

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..... ed up to a turnover of ₹ 5 Crores and 6 Digits of Harmonised System of Nomenclature Code (HSN Code) is to be indicated where the turnover is more than 5 Crores. - Reply By Rajagopalan Ranganathan - The Reply = Sir, The effective date for implementation of this is 01.04.2021 - Reply By YAGAY andSUN - The Reply = Revised Requirement of declaring HSN for goods and SAC for services in inv .....

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..... oices and in FORM GSTR-1 w.e.f. 01.04.2021 as under : HSN/SAC at 6 digits for supplies of both goods and services for taxpayers with aggregate annual turnover above ₹ 5 crores; HSN/SAC at 4 digits for B2B supplies of both goods and services for taxpayers with aggregate annual turnover upto ₹ 5 crores; Government to have power to notify 8 digit HSN on notified class of suppli .....

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..... es by all taxpayers - Reply By Ganeshan Kalyani - The Reply = Sir, it is to be followed w.e.f 01.04.2021. - Reply By Bhavika Chothani - The Reply = HSN/SAC is based on turnover. If your turnover is more than 5 crores than 4 digit HSN is mandatory - WHETHER 6 DIGITS HSN IS COMPULSORY - Query Started By: - SAFETAB LIFESCIENCE Dated:- 16-10-2020 Goods and Services Tax - GST - Got 5 Replies - G .....

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..... ST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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