GST Notification 78/2020-Central Tax, dated 15.10.2020
Notification No. 78/2020 has been issued wherein changes have been made in the Notification No 12/2017- Central tax dated 28-6-2017 with effect from 1st April, 2021.
Turnover upto 5 crores – 4 digits
Turnover above 5 crores – 6 digits
The Govt has reserved the power to notify upto 8 digits.
HSN codes of 8 digits are mandatory only in case of export and imports of goods.
A registered person having aggregate turnover up to Rs 5 Cr in the previous FY may not mention the number of digits of HSN Code in a tax invoice issued by him under the said rules in respect of supplies made to unregistered persons. i.e. B2C supplies. Currently no distinction between B2B and B2C supplies exists for purpose of disclosure of HSN/ SAC Codes.
