Contact us

Accounting Services

Get Expert Assistance

10 Apr2021
  • By Admin
  • Category Goods and Service Tax
  • Views 462

E-Invoicing has been made applicable from 01st October 2020 to all the businesses having aggregate turnover more than Rs.500 crores in any of the preceding financial years from 2017-18 to 2019-20. Further, from 01st January 2021, E-Invoicing will apply to businesses exceeding Rs.100 crores turnover in any FYs between 2017-18 to 2019-20, as specified via Notification No. 88/2020 –Central Tax.


The CBIC vide its tweet dated 21st March 2021 has provided that HSN Code of 4 digits is mandatory for B2B tax invoices on supplies of goods and services for taxpayers having aggregate turnover up to Rs. 5 crores in the preceding FY.


HSN Code


As for taxpayers having an aggregate turnover of more than Rs. 5 crores in the preceding FY, it has been provided that an HSN Code of 6 digits is mandatory for all tax invoices viz. B2B and B2C, on supply of goods and services.


It is crucial to mention the correct HSN/ SAC Code on the tax invoices and GSTR-1; otherwise, a penalty of Rs. 50,000/- (Rs. 25,000/- each for CGST & SGST) can be levied for non-mentioning or mentioning the wrong HSN/ SAC Code under Section 125 of the Central Goods and Services Tax Act, 2017.

0 Comment

Leave a Comment


Our Profile

In today’s business environment, the world demands quality professional services that are provided in a timely and cost-effective manner. We, at Manish Anil Gupta & Co, believe in putting our client’s needs squarely in front at all times.

Firm Profile Brochure


Request a call back

"Need to know more about our services or what we do? Drop us your contact details and one of our professionals will call you to answer your query!"