Web22 jun. 2024 · HSN Code Made Mandatory On GST Invoices From 1st April 2024 by amitmundra Jun 22, 2024 As per the notification issued by the GST authorities in October 2024, the HSN codes are now mandatory on all invoices. According to this new regulation, GST authorities mandated the HSN code on all tax invoices from 1st April 2024. Web30 mrt. 2024 · HSN Code in GSTR-1 From 1 st April 2024, it is mandatory to mention the HSN code summary along with the HSN code in table 12 of GSTR-1 based on the …
HSN & SAC Code Mandatory in Invoice & Form GSTR-1 - TaxGuru
WebYes, as per the CGST notification 78/2024 dated 15th October 2024, HSN codes must be mandatorily declared on B2B invoices (4 digit codes) by taxpayers with AATO of up to Rs.5 crore in the previous financial year, while it’s optional for B2C invoices. WebFirst phase of mandatory HSN Code implementation Part I. Part I of the first phase of this notification's implementation began on April 1, 2024. For those with a turnover of more than Rs. 5 crore, a four-digit HSN code became necessary during this phase. Those with a turnover of up to Rs. 5 crore, however, were required to report a two-digit ... how much is raising cane\u0027s 3 finger combo
HSN Code (6 digits / 8 digits) Mandatory from 1st April 2024
Web24 aug. 2024 · HSN Code in GSTR-1 Just like it is mandatory to mention the HSN code at 6 and 4 digits on invoices, GST returns to needs to be reported with the HSN code. Businesses with an aggregated turnover exceeding 5 crores in the preceding financial … Web14 apr. 2024 · The mandatory reporting of HSN codes was introduced while preparing the GSTR-1 return from 1st April 2024. As per the revised declaration, taxpayers with an annual aggregate turnover of more than Rs.5 crore must mandatorily declare six digits of the HSN code on all the tax invoices. The turnover to consider must be of the previous financial year. Web1 apr. 2024 · HSN stands for Harmonised System of Nomenclature code. It is mandatory for both B2B and B2C tax invoices on the supplies of Goods and Services. This was introduced in 1988 by the World Customs Organization (WCO). This was introduced for a systematic classification of goods both national and international. how do i edit an html file