data entry work

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data entry work which GST rate & sac code
Replies (3)
9984 and 18%

Dear Mr. Jagani,

most of us are using just first 4 characters in HSN OR SAC, didn't get the logic behind, pls. also eleborate consequences related.

 

Thanks & Regards, 

HSN/SAC code shall be mentioned in Tax Invoice as well as furnished in Table 12 of FORM GSTR-1. The taxpayers who have turnover below the limit of Rs 1.5 Crore will have to mention the descripttion of goods/service in place of code. Whereas, the descripttion is optional for taxpayers who are required to furnish HSN/ SAC codes on the basis of aggregate turnover as below:

  • Less than Rs. 1.5 crores  HSN/SAC code is not mandatory (Hence, composition dealers may not be required to specify HSN at 2-digit level also).
  • Rs. 1.5 crores to Rs. 5 crores – HSN code at minimum 2 digit chapter level is mandatory. SAC code is mandatory.  
  • Above Rs. 5 crores – HSN code at minimum 4 digit chapter level is mandatory. SAC code is mandatory.
  • For export turnover, 8-digit HSN code is mandatory irrespective of any of the above 3 categories.


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