|Update:||Compliance Alert – 6-digit HSN codes mandatory for taxpayers with AATO more than INR 5 crore|
According to Notification No. 78/2020 – Central Tax, taxpayers whose aggregate turnover in the preceding financial year is more than INR 5 crore (ca. EUR 567 540) are required to use a 6-digit HSN code.
According to the latest platform update, the GST e-Invoice System will block 4-digit HSN codes within a few weeks.
Taxpayers must ensure the necessary changes have been implemented in their system to comply with the Notification.