HSN CODES 4 DIGIT & 6 DIGIT IN GST ELUCIDATION FOR REPORTING ON INVOICE
Notification No. Twelve/2017-Central Tax dated 28th June 2017, as amended vide Notification No. Seventy Eight/2020 – Central Tax, dated October 15, 2020, mandates taxpayers to declare specified digits, as follows, of Harmonised System of Nomenclature (HSN) / Service Accounting Code (SAC) Code on raising of tax invoices, w.e.f. April 1, 2021. 👉 aggregate turnover in preceding financial year is equal to 5 crores or less - 4 digit hsn code to be mentioned 👉 aggregate turnover in preceding financial year is more than 5 crores - 6 digit hsn code to be mentioned declaration of hsn codes 4/6 digit to be done out of valid codes only. 6 DIGIT HSNs ARE ACCORDING TO AVAILABILITY IN THE CUSTOMS TARIFF WITH CORRESPONDING DESCRITPION OF GOODS AND WILL BE ALLOWED BY GST SITE. GST HSN Codes are to be considered from Customs Tariff Act, 1975 and are applicable as mentioned, the number of digits of HSN to be shown on Invoice is specified in Notifica...