Annual Return HSN Summary of Inward Supply

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rahul sagar (Querist)
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16 January 2020 Further, it is now understood that for Table 18 (HSNwise summary for inward supplies), reporting of HSN summary is restricted only to those HSN which accounts for at least 10% of the total summary of inward supplies.
Could you explain this with example to us.
Thanking you.

CA Anita Bhadra

CA Anita Bhadra (Expert)
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16 January 2020 It will be optional for taxpayers having annual turnover upto 1.50 Crores

Mandatory to report HSN code at two digits level for taxpayers having annual turnover in the preceding year above 1.50 Cr but upto 5.00 Cr

and at four digits‘ level for taxpayers having annual turnover above 5.00 Cr.

For Example - Total inward supply is 50 lakhs and out of total a single item is for Rs 6 Lakhs .( more than 5 Lakhs (10% of total inward supply) . You need to give HSN code for that single item only