HSN Summary compulsorily to be formed part of GSTR-1 : This small mistake in GST Return and pay penalty of 50,000
HSN Summary compulsorily to be formed part of GSTR-1 Quarterly Returns. Notification No. 78/2020 – Central Tax released on 15/10/2020, made compulsory for the registered persons to mention either 4 digit or 6 digit of HSN Code in HSN Summary of the GSTR-1 on the basis of their Aggregate Annual Turnover (AATO) in the preceding financial year. However, these changes were being inculcated on GSTN Portal in phase manner.