EXEMPTION FROM HSN CODE SUMMARY IN GSTR-1 & GSTR-2 TO SMALL TRADERS TURNOVER Rs 1.5 CRORE
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Notification No. 12/2017 – Central Tax dated 28th June 2017 provides that a registered person having annual turnover in the preceding financial year less than Rs.1 .5 Crore is not required to mention the digits of HSN codes in a tax invoice issued by him. However, in GSTR 1 & 2 he must give the details of stock sold HSN code wise.
In such cases although the small trader is not required to mention HSN code in invoice but he is required to give HSN code details in his returns.
It is suggested that an alternative way of identifying the rate-wise supplies being reported to give relief to small traders who are otherwise not required to mention the digits of HSN codes in a tax invoice issued by them
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