GSTN advisory for implementation of mandatoy HSN codes meaning in GSTR-1

GSTN in pursuance of Notification no. 78/2022 dated October 15,2020(Explore (, which mandated the taxpayers to report minimum 4 digit or 6 digit of HSN Code in table-12 of GSTR-I on the basis of their Aggregate Annual Turnover (AATO) in preceding financial year, notifies changes to be implemented for facilitation of taxpayers in a phase-wise manner; W.r.t. the taxpayers with AATO of more than 5 crores, apprises that the taxpayers are required to mandatorily report 4-digit HSN codes for goods & services, and for Part II of the Phase I, the taxpayers will now have to mandatory report 6-digit HSN code; In respect of Phase II, it shall be mandatory for the taxpayers with AATO of up to 5 crores to report HSN at 4-digits ; Specifies that Part I & Part II of Phase 1 has already been implemented from April 01, 2022 & August 01, 2022 respectively and is currently live on GST Portal, and Phase II would be implemented from November 01, 2022; Advises taxpayers to correct the HSN details where there is an error and a warning message is shown, however, it is not a mandatory validation for filing GSTR-1 and informs that further phases would be implemented shortly and respective dates shall be updated from time to time: GSTN Advisory

Explore (