Recent Updates visavis GST ReturnsCA. Satyadev Purohit

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The Tax Publishers GST--Recent Amendments Recent Updates vis-a-vis GST Returns CA. Satyadev Purohit Pursuant to changes made in the GST Rules, the Government has made some changes in the GST returns i.e. GSTR-3B and GSTR-1. The learned author tries to make an overview of such changes. 1. Implementation of mandatory mentioning of HSN Code in GSTR-1 As per Notification No.12/2017-Central Tax, dt. 28-6-2017, upto 31-03-2021, a registered person having annual turnover upto Rs. 1.5 crore in the precent financial was exempted from mentioning HSN codes in the invoice. However, the taxpayers having annual turnover more than 1.5 crore and upto Rs. 5 crore were required to mention two digits of HSN code, and the taxpayers having annual turnover more than Rs. 5 crore were required to mention 4 digits of the HSN Codes on the invoices issued towards taxable supply. With effect from 1-4-2021, Notification No. 78/2020-Central Tax, dated 15-10-2020 made amendment to Notification No. 12/2017-Central Tax, dt. 28-6-2017, consequent to which a taxpayer having aggregate turnover upto Rs. 5 crore in the preceding financial year is required to mention 4 digits of HSN code and a taxpayer having aggregate turnover more than Rs. 5 crore is required to mention 6 digits of HSN codes. As per the Advisory issued by the GSTN, in order to facilitate the taxpayers, the above changes were implemented in the phase-wise manner on GST Portal as below: SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

GST--Recent Amendments

Recent Updates vis-a-vis GST Returns

CA. Satyadev Purohit

Pursuant to changes made in the GST Rules, the Government has made some changes in the GST returns i.e. GSTR-3B and GSTR-1. The learned author tries to make an overview of such changes.

1. Implementation of mandatory mentioning of HSN Code in GSTR-1

As per Notification No.12/2017-Central Tax, dt. 28-6-2017, upto 31-03-2021, a registered person having annual turnover upto Rs. 1.5 crore in the precent financial was exempted from mentioning HSN codes in the invoice. However, the taxpayers having annual turnover more than 1.5 crore and upto Rs. 5 crore were required to mention two digits of HSN code, and the taxpayers having annual turnover more than Rs. 5 crore were required to mention 4 digits of the HSN Codes on the invoices issued towards taxable supply.

With effect from 1-4-2021, Notification No. 78/2020-Central Tax, dated 15-10-2020 made amendment to Notification No. 12/2017-Central Tax, dt. 28-6-2017, consequent to which a taxpayer having aggregate turnover upto Rs. 5 crore in the preceding financial year is required to mention 4 digits of HSN code and a taxpayer having aggregate turnover more than Rs. 5 crore is required to mention 6 digits of HSN codes.

As per the Advisory issued by the GSTN, in order to facilitate the taxpayers, the above changes were implemented in the phase-wise manner on GST Portal as below: