HELLO FRIENDS
I FILED GSTR-1 OF APRIL 2021 WITHOUT DISCLOSING HSN SUMMARY. WILL I BE PENALISED. IF YES, THEN HOW MUCH. OR IS THERE ANY WAY TO RECTIFY THE GSTR-1.
Abhinav Jain (29 Points)
10 May 2021HELLO FRIENDS
I FILED GSTR-1 OF APRIL 2021 WITHOUT DISCLOSING HSN SUMMARY. WILL I BE PENALISED. IF YES, THEN HOW MUCH. OR IS THERE ANY WAY TO RECTIFY THE GSTR-1.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 10 May 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 11 May 2021
HARSHIL JAIN
(MD)
(338 Points)
Replied 11 May 2021
Abhinav Jain
(29 Points)
Replied 11 May 2021
My concern is.....GSTR-1 is filed without mentioning HSN Summary in the respective column.....No doubt all my sale invoices already have HSN Code mentioned.......Will i be penalised by GST Deptt for non mentioning of HSN Summary is GSTR-1
HARSHIL JAIN
(MD)
(338 Points)
Replied 11 May 2021
Abhinav Jain
(29 Points)
Replied 11 May 2021
no sir we are filing it on monthly basis....i had exercised monthly option......Its not GSTR-1 IFF....Its plain GSTR-1
HARSHIL JAIN
(MD)
(338 Points)
Replied 11 May 2021
CA Aniruddh Barve
(Proprietor)
(57 Points)
Replied 11 May 2021
Hi Abhinav,
HSN summary in GSTR -1 is mandatory only if your T/O in previous financial year exceeds 1.5cr.
The amendment notification talks about mentioning HSN code on invoice, and not for HSN summary in the GSTR 1.
Reference -
15/10/2020 Notification -
https://www.cbic.gov.in/resources//htdocs-cbec/gst/notfctn-78-central-tax-english-2020.pdf
Original 28/06/2017 notification which is now amended -
https://cbic-gst.gov.in/pdf/central-tax/notfctn-12-central-tax-english.pdf
Let me know if I m missing any notification, as per my knowledge there is no notification amending or mandating HSN summary for <1.5cr.
Kindly Hit like if this helps.
Thanks,
Aniruddh Barve
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 11 May 2021
W.e.f. 1st Apr 2021, taxpayers having turnover up to Rs.5 cr and making B2B supplies are compulsorily required to furnish 4-digit HSN/SAC on invoice (as well as GSTR1). General penalty of Rs.50,000 for non-compliance, in case you receive notice from the dept.
I think you may be able to amend in the subsequent return but am not sure about this.
CA Aniruddh Barve
(Proprietor)
(57 Points)
Replied 11 May 2021
Originally posted by : CMA Poornima Madhava | ||
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W.e.f. 1st Apr 2021, taxpayers having turnover up to Rs.5 cr and making B2B supplies are compulsorily required to furnish 4-digit HSN/SAC on invoice (as well as GSTR1). General penalty of Rs.50,000 for non-compliance, in case you receive notice from the dept. I think you may be able to amend in the subsequent return but am not sure about this. |
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Hi Poornima, Abhinav is asking about HSN Summary, please also include your view on HSN Summary, it will spare readers from confusion.
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