GST – Major Change to be executed in GSTR 1 filed from 1st May 2021 onwards.
1st April 2021 marked the new change for imposition of 4/6/8 digit HSN/SAC codes regarding HSN/ SAC codes as below link.
https://taxguru.in/goods-and-service-tax/16-bullet-points-gst-hsn-code-requirements.html
12 points need to be noted for the GSTR-1 for the month of April 2021 to be filed from 1st May 2021 onwards:
1. GST returns need to be reported with HSN codes.
2. Businesses with turnover exceeding INR 5 crores need to upload HSN summary with 6 digit HSN codes.
3. If one is filing monthly GSTR-1, HSN details of April need to be filed in May 2021. If one is filing quarterly GSTR-1, 4 digit HSN codes of April to June 2021 need to be filed in July 2021.
4. Businesses can choose to mention HSN codes Voluntarily also. Businesses upto 5 crores can mention 6 or 8 digits and businesses above 5 crores can mention optionally mention 8 digits HSN. There is no bar in mentioning higher digits but there is bar in mentioning lower digits.
5. Due to this change, now in Table 12 of GSTR 1 (i.e., details of outward supplies of goods or services), minimum 4/6/8 digits need to be mentioned there.
6. Also, in Table 12, total value in HSN summary is replaced by rate of tax, implying both HSN wise and rate wise sales reporting need to be done in Gstr 1’s filed from 1st May 2021 onwards.
7. Businesses need to take stock of the different types of products and/ or services so that the HSNs can be jotted down; which may fall under the same chapter and same heading or different chapters with different headings.
8. Last 2 digits need to be emphasized and to be ensured to be correctly mentioned in case of businesses above 5 crores turnover. That means, last 2 digits of 6 digits need to be ensured to be correctly reported in Gstr 1.
9. The accounting or the Gst software need to be updated accordingly, to save last minute glitches while filing Gstr 1’s from 1st may 2021 onwards.
10. The description of goods column will now auto populate based on HSN reported in Gstr 1.
11. In the previous Gstr 1’s filed for the March 2021, the criteria for HSN summary used to be HSN, description and UQC. Whereas for Gstr 1’s for April 2021 field from May 1st onwards, the criteria will be HSN, Rate and UQC.
12. Section 125 wrt General Penalty- Specifies fines for mistakes related to non-mentioning or mentioning wrong HSN/ SAC Code on the tax invoices and Form GSTR-1, which may extend to Rs. 25,000/- each for CGST and SGST.
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We export the goods of same HSN code under LUT and under rebate of IGST, While posting in R1 in table 12 system is not accepting 2 diff entries as mentioned above , How to solve this.
Sir ,i missed the HSN WISE SUMMARY IN THE MONTH OF APRILto July GSTR1 RETURN FILED .MY TURNOVER IS below 2.5 Cr . please help us
Sir Please clarify the Table of HSN Summary must be equal to B2B+B2CS+/-CDNR or it need not be equal.For Example we are raising an Invoice in July 2021 for Rs.1,000/- +GST.Actually it should be Rs.1,100/- + GST. We raise a debit note for the difference Rs.100/- in the month of Aug,2021 i.e Rs.100/- + GST and IRN Generated for the debit note. Assume During the month of Aug, 2021 we do not have any other transaction. In this case shall we file GSTR-1 by filling CDNR with out updating HSN Summary. Please clarify.
sir we File GSTR 1 For the month of June 2021 but HSN Wise summery not uploaded pls suggest me sir
PLEASE SUGGEST ME THE REASONS OF DIFFERENCE BETWEEN B2CL AND HSN TAXABLE VALUE IN GSTR-1 REPORT
How to compute hsn summary in gstr1 with same product having different UOM or Packing size or brand but same hsncode and same tax rate. Like for E.g.
Parle g Glucose Biscuit 100 gms
Parle g Glucose Biscuit 200 gms
Britannia Marie Biscuit 100 gms
Britannia Nice Biscuit 200gms
Some are sold in pkts, some in doz and some in box , so tax rate is same but selling rate is different
Here commodity is same as Biscuits with different brands or different sizes. So hsn summary computed in Gstr1 will or has to be different. Please clarify
Sir ,i missed the HSN WISE SUMMARY IN THE MONTH OF APRIL GSTR1 RETURN WHICH IS FILED IN MAY .MY TURNOVER IS 40 LACS .PLEASE ADVICE
Do Nothing Above 5 Cr Turnover only Applicable
Sir, Is compulsory mention HSN CODES FOR B2C SALES. KINDLY GIVE ADVICE.
If the description of the HSN code is showing wrong, then what we have to do?
Sir ,i missed the HSN WISE SUMMARY IN THE MONTH OF APRIL GSTR1 RETURN WHICH IS FILED IN MAY .MY TURNOVER IS 40 LACS .PLEASE ADVICE
SIR, I MISSED HSN WISE SUMMARY FOR THE MONTH OF MAY WHILE FILING GSTR 1 SO, WHAT CAN I DO NOW?
how can you resolve this problem plz hlp me my email sv671702@gmail.com plz sir if you have any solution so plz
HELLO SIR, NAMASTE, IN GSTR-1 TABLE NO.12 I.E., HSN CODES TABLE IS NOT WORKING, SO WHAT WILL I HAVE TO DO
If your previous year turnover up to Rs. 5 crores, it is optional to reporting HSN Code in GSTR1, when your supplies made to unregistered persons, otherwise it is mandatory to reporting HSN Code i.e. B to B.
As Per Your Reply { If your previous year turnover up to Rs. 5 crores, it is optional to reporting HSN Code in GSTR1, when your supplies made to unregistered persons, otherwise it is mandatory to reporting HSN Code i.e. B to B.} I would like to ask that is there any notification or circular, if yes, than kindly let me know.
HELLO SIR, NAMASTE, IN GSTR-1 TABLE NO.12 I.E., HSN CODES TABLE IS NOT WORKING, SO WHAT WILL I HAVE TO DO
Hi Sir,
Please advice me, what we have mention in the UQC of the SAC Codes for the filing the GSTR 1 Return.
Dear sir,
Plz advice, if our all sales b2c then we are optional file hsn detail or complusary filed hsn detail