New GST Rule: HSN Code Requirements Based on Turnover

Central Board of Excise and Customs notifies new GST rule. Rule pertains to mentioning HSN codes on tax invoices.

Applicable based on the registered person's annual turnover. Turnover categories determine the number of digits required for HSN codes.

Businesses with turnover up to ₹1.5 crore exempt from HSN code requirement. Those with turnover between ₹1.5 crore and ₹5 crore need 2-digit HSN codes.

Companies with turnover exceeding ₹5 crore must include 4-digit HSN codes.