A minimum 6-digit HSN code is compulsory for taxpayers with an Annual Aggregate Turnover (AATO) of Rs. 5 crores and above from December 15, 2023, per the latest GST e-Invoice System mandate. The update states as follows:“Atleast 6-digit HSN will be mandatory in ...
With GST taking control most of the business owners will have to take up two to four or eight digits HSN codes for their goods and services depending on their turnover for a year. Dealers who have a turnover of Rs 1.5 crores up to 5 crores will have to use two digit HSN code. ...
It is compulsory to mention the 8 digit HSN Code on the shipping bill, failing which the export benefits shall not accrue. In GST however, HSN Codes are not mandatory for businesses with a turnover of less than Rs 1.5 cr or if the dealer is registered under the Composition Scheme of ...