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Is hsn summary mandatory

naresh (article assistant) (71 Points)

02 August 2020

is hsn summary mandatory for registered person whose turnover exceeding 1.5cr

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3 Replies

Divyam Agarwal (Practicing Chartered Accountant) (959 Points)
Replied 02 August 2020

Yes, it is mandatory to give the above details.

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 02 August 2020

HSN wise summary of outward supply is optional for taxpayers having annual turnover upto Rs.1.50 Cr.

It's mandatory to report HSN code at two digits level for taxpayers having annual turnover in the preceding year above Rs. 1.50 Cr but upto Rs.5.00 Cr and at four digits’ level for taxpayers having annual turnover above Rs.5.00 Cr.

UQC details to be furnished only for supply of goods.
Quantity is to be reported net of sale returns.