Scribd Logo
Upload

Welcome to Scribd!

  • HSN Advisory Table 12 2

    Uploaded by

    shadab qureshi
    5 views1 page
    Mandatory reporting of HSN codes in GSTR-1 filings is being implemented in a phased manner based on taxpayer's annual turnover. [1] For taxpayers with up to Rs. 5 crore turnover, 2-digit codes must currently be reported, increasing to 4 digits from August 2022. [2] Taxpayers over Rs. 5 crore must report 4-digit now and 6 digits from August 2022, with warnings for incorrect codes. [3] Further phases will refine HSN reporting requirements over time.

    Original Description:

    Original Title

    hsn_advisory_table_12_2

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Mandatory reporting of HSN codes in GSTR-1 filings is being implemented in a phased manner based on taxpayer's annual turnover. [1] For taxpayers with up to Rs. 5 crore turnover, 2-digit codes must currently be reported, increasing to 4 digits from August 2022. [2] Taxpayers over Rs. 5 crore must report 4-digit now and 6 digits from August 2022, with warnings for incorrect codes. [3] Further phases will refine HSN reporting requirements over time.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    5 views1 page

    HSN Advisory Table 12 2

    Uploaded by

    shadab qureshi
    Mandatory reporting of HSN codes in GSTR-1 filings is being implemented in a phased manner based on taxpayer's annual turnover. [1] For taxpayers with up to Rs. 5 crore turnover, 2-digit codes must currently be reported, increasing to 4 digits from August 2022. [2] Taxpayers over Rs. 5 crore must report 4-digit now and 6 digits from August 2022, with warnings for incorrect codes. [3] Further phases will refine HSN reporting requirements over time.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Implementation of mandatory mentioning of HSN codes in GSTR-1

    1. Vide Notification No. 78/2020 – Central Tax dated 15th October, 2020, it is mandatory for the taxpayers to
    report minimum 4 digits or 6 digits of HSN Code in Table-12 of GSTR-1 on the basis of their Aggregate
    Annual Turnover (AATO) in the preceding Financial Year.
    To view the detailed notification, please click here.

    2. To facilitate the taxpayers, these changes are being implemented in a phase-wise manner on GST Portal
    as below:

    Phases Taxpayers with AATO of up-to 5 cr. Taxpayers with AATO of more than 5 cr.

    Taxpayers are required to mandatorily Taxpayers are required to mandatorily report


    report 2-digit HSN codes for goods & 4-digit HSN codes for goods & services.
    services.
    Manual user entry is allowed for entering
    Manual user entry is allowed for HSN or description and warning or alert
    Part I entering HSN or description and message shall be shown in case of incorrect
    warning or alert messageshall be HSN code.
    Phase 1 shown in case of manual HSN.
    However, taxpayers will be able to file GSTR-1
    However, taxpayers will be able to file after manual entry.
    GSTR-1 after manual entry.
    Taxpayers will now have to mandatory report
    Part II Same as above 6-digit HSN code.
    No change in other conditions

    Phase 2 to
    To be communicated in due course.
    Phase 4

    3. Part 1 of Phase I has already been implemented from 01 st April 2022 and is currently live on GST Portal.
    From 01stAugust, 2022, Part-II of Phase-I would be implemented on GST Portal and the taxpayers would
    need to report HSN in table 12 of GSTR-1 as per below mentioned scheme.

    Taxpayers with AATO of up-to 5 cr. Taxpayers with AATO of more than 5 cr.

     Taxpayers would be required to mandatorily report 6-digit HSN


    code.
     Manual user entry would be allowed for entering HSN or
    description and in case of a wrong HSN reporteda warning or
    To continue as it is.
    alert message will be shown.However, taxpayers will still be
    able to file GSTR-1.
     Taxpayers would be expected to correct HSN where there is an
    error and a warning message shown.

    4. Further phases will be implemented on GST Portal shortly and respective dates of implementation and
    nature of change would be updated from time to time.

    *******

    You might also like