Taxpayers will have to Compulsurily Declare HSN/SAC Codes In GST Tax Invoices From 1st April, 2021
E-Invoicing is applicable from 1st October 2020 to whose aggregate turnover has exceeded Rs.500 crt in any of the years from 2017-18 to 2019-20.
From 1st January 2021, E-Invoicing will be applicable to taxable persons who TO exceeds the Rs.100 crore one financial years between 2017-18 to 2019-20, as intimated in Notification No.88/2020 –Central Tax.
On 8th March 2021, it is notified that e- Invoicing will be applicable from 1st April 2021 for taxable persons whose turnover is more than Rs.50 crores (in any financial year from FY 2017-18 onwards, a Notification No. 5/2021 –Central Tax.
HSN Code is optional in respect of supplies made to unregistered persons i.e., B2C supplies for aggregate turnover upto INR 5 crores in the previous financial year.
Penalty of INR 50,000/- (INR 25,000/- each for CGST and SGST) may be levied for non-mentioning or mentioning wrong HSN/ SAC Code
| Turnover in the preceding Financial Year | Number of Digits of HSN/SAc Code | |
| . | Upto INR 5 crores | 4 |
| . | More than INR 5 crores | 6 |
| . | Supply of Chemicals | 8 |
