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Two important demands of the trade and industry were not discussed at the GST Council meeting on May 28, said AgroFood Chamber of Commerce and Industry. Its president S. Rethinavelu said in a press re
Highlights Bix with turnover of more than Rs 5 cr. 6 digits HSN Code mandatory. New Delhi: The Ministry of Finance has said that GST taxpayer with turnover of more than Rs 5 crore will have to furnish six-digit HSN or tariff code on the invoices issued for supplies of taxable goods and services. The rule has been effective from April 1, 2021. "With effect from the 1st April, 2021, it has been made mandatory for a GST taxpayer, having turnover of more than Rs 5 crore in the preceding financial year, to furnish 6 digits HSN Code (Harmonised System of Nomenclature Code), or as the case may be, S...
GST taxpayers to now furnish six-digit HSN tariff code, check direct link here 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. File photo Updated: Apr 9, 2021, 07:36 PM IST A GST taxpayer with a turnover of more than Rs 5 crore will now have to provide a six-digit HSN tariff code on the invoices issued for supplies of taxable goods and services, the Ministry of Finance had said in a release. This new rule came into effect from April 1, 2021. "With effect from the 1...
CBIC extends customs duty and integrated GST exemptions till March 31, 2022 SECTIONS Share Synopsis The Central Board of Indirect Taxes and Customs (CBIC) on Wednesday extended the basic customs duty and integrated goods and service tax exemptions for export-oriented units, by a year till March 31, 2022. Agencies The Central Board of Indirect Taxes and Customs (CBIC) Wednesday extended the basic customs duty and integrated goods and service tax exemptions for export oriented units, by a year till March 31, 2022. The Board also made it mandatory for a GST taxpayer having turnover of more tha...