Hsn Code In Gst Invoice Query

Megha V
watch_later 3 years, 5 months ago

  1. Is it mandatory to put HSN or Accounting code against each item? I have read under rules that Taxpayers whose turnover is below Rs. 1.5 crores are not required to mention HSN Code in their invoices.
  2. For small businesses, falling under Composition scheme, do they need to provide complete details on the Bill of Supply (except CGST/SGST and IGST) and I assume Bill of Supply is same as Retail Invoice?
  3. Under GST filing, do we need to send the complete details of Invoice (HSN codes and items) for return calculations to GSTN?
  • chatComments
    suggest reading http://www.knowyourgst.com/article/gst-invoice-format-excel-pdf-22/ - Pulkit Sharma
1 Answer

Pulkit Sharma watch_later 3 years, 5 months ago

Yes it mandatory to put HSN code or SAC in invoice for each product. Even tax payers paying under composition scheme need to show HSN code in bill of supply.

At the time of filing return invoice details has to be submitted along with HSN code, tax rate for each product and tax charged along with quantity and rate.

We at site are developing an invoice application which will be live next week, it will generate invoices as per GST invoice rules.

  • chatComments
    SAC or ACS should be understood as same. - Pulkit Sharma
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