HSN Code Mandatory for B2C sales in GST: Turnover Threshold Explained
whether HSN MANDATORY FOR B2C TURNOVER BELOW 5Cr?
HSN codes are not mandatory for B2C (Business-to-Consumer) supplies for businesses with an annual turnover below Rs. 5 crores.
Here’s a summary of HSN code requirements:
- Turnover above Rs. 5 crores:
- Mandatory: Must use 6-digit HSN code for all invoices (both B2B and B2C).
- Turnover upto Rs. 5 crores:
- B2B invoices: Must use 4-digit HSN code.
- B2C invoices: HSN code is optional.
Refer NOTIFICATION NO. 78/2020 – CENTRAL TAX DATED 15-10-2020
- GST, HSN Code, B2C, B2B, Turnover, Tax Invoice, GST Rules, GST Compliance, Tax, Business, Finance, India