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HSN code

Ajay Prajapati (512 Points)

04 July 2017

is HSN code only for turnover 1.5 crore above or its memdetory for all dealer no turnover metters ???

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Karan Batra (Creator: TheProTalks) (2325 Points)
Replied 04 July 2017

Under GST, the majority of dealers will need to adopt two-, four-, or eight-digit HSN codes for their commodities, depending on their turnover the previous year.

Businesses with turnover of less than Rs 1.5 crores will not be required to use HSN codes for their commodities.
Businesses with turnover between Rs 1.5 crores and Rs 5 crores shall be required to use two-digit HSN codes for their commodities.
Businesses with turnover equal to Rs 5 crores and above shall be required to use four-digit HSN codes for their commodities.
Dealers under composition scheme will not be required to mention HSN codes in their invoices.