Government made mandatory to furnish 6 digits HSN Code or SAC for GST taxpayers with more than Rs 5 crore turnover

GST

Government has made mandatory that a GST taxpayer having turnover of more than 5 crore rupees in the preceding financial year will have to furnish 6 digits Harmonised System of Nomenclature HSN Code, or Service Accounting Code, SAC from 1st April, 2021  on the invoices issued for supplies of taxable goods and services. A taxpayer having turnover of upto Rs 5 crore in the preceding financial year is required to mandatorily furnish 4 digits HSN code on B2B invoices. Earlier, the requirement was 4 digits and 2 digits. HSN codes for goods at 6 digits are universally common. Therefore, common HSN codes apply to Customs and GST. HSN search facility is available on the GST portal.

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