No requirement of HSN code up to turnover of Rs.1.50 Crore – Read all about requirement of HSN code under GST

Information 29.11.2017 0 Comments 743 Add to Reading List

Presentation

To give additionally straightforwardness to the little citizens, the administration exempts the prerequisite of HSN code for the turnover up to Rs.1.50 crore. This has been done to keep the GST as basic as conceivable atleast in the first place.

What is HSN Code?

HSN code implies blended arrangement of terminology code where every great is given a specific code. In India, HSN code is broadly popular in custom Act, in any case, aside from them; not very many individuals know their significance.

In this manner, out in the open intrigue the administration has done away the necessity of putting HSN code in the solicitations atleast for citizens having turnover up to Rs.1.50 Cr.

Additionally, the administration limits the most extreme number of HSN code to four digit (internationality it is up to 8 digit). Here is the rundown of what government said in the notice:

Up to turnover of Rs.1.50 Crore – No HSN code required.

Up to turnover of Rs.5 Crore – Two digit HSN code required.

Turnover more than 5 Crore – Four digit HSN code required.

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