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.
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
CAclubindia
