TaxTMI 
TaxTMI 
HSN Code required to be mentioned in Invoice
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....SN Code required to be mentioned in Invoice<br> Query (Issue) Started By: - SUSHIL GOYAL Dated:- 29-5-2017 Last Reply Date:- 6-6-2017 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>What is HSN Code. In FAQ issued by cbec on 31/03/2017 it is said that a person whose turnover is upto ₹ 1.50 crore need not mention any HSN Code. A supplier having turnover between 1.50 Crore and 5 Crore ....
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....will mention 2 digit HSN Code and with turnover more than 5 Crore 4 digit HSN Code will be mentioned. My query is that in the HSN Code list we find two digit code as Chapter and 6 digit or 8 digit codes for products. Pl clarify. Reply By MARIAPPAN GOVINDARAJAN: The Reply: FAQ may be revised. Reply By Himansu Sha: The Reply: HSN means Harmonised systems of Nomenclature. It also exists now des....
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....cribing the taxliability on various products. As appearing from the revised invoice rules (not notified till date) , such things do not exist. The matter has changed from the date of publication of the FAQ till now. It is eolving. Reply By Ganeshan Kalyani: The Reply: The HSN wise tax rate realised recently has only two digit HSN code. More elaborated list is expected to come. Reply By Robin Si....
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....ngh: The Reply: HSN (Harmonized System of Nomenclature) is used for maintaining the stability in the assortment of goods and is also internationally accepted by PCS (Product Coding System). It is developed by the WCO (World Customs Organization). The HSN code will be used for classification of goods under the GST regime. Taxpayers can be used the HSN code in two different ways - 2-digit and 4-di....
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....git code. The earlier can be used in case of a turnover higher than ₹ 1.5 crores and below than ₹ 5 crores. While on the other hand, the 4-digit code will be used for a turnover worth of ₹ 5 crores or above.<br> Discussion Forum - Knowledge Sharing ....