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GST - Taxpayers below Rs 1.5 Cr not required to use HSN in invoices; Supply for charity not taxable

By TIOL News Service

NEW DELHI, APR 03, 2017: UNDER the GST Regime, the HSN (Harmonised System of Nomenclature) code shall be used for classifying the goods. Taxpayers whose turnover is above Rs. 1.5 crores but below Rs. 5 crores shall use 2-digit code and the taxpayers whose turnover is Rs. 5 crores and above shall use 4-digit code. Taxpayers whose turnover is below Rs. 1.5 crores are not required to mention HSN Code in their invoices.

Services will be classified as per the Services Accounting Code (SAC).

As per the latest CBEC FAQ, the supply to charitable bodies will not qualify for the levy of tax as there is no quid pro quo involved. In order to be a supply which is taxable under GST, the transaction should be in the course or furtherance of business.

These rates are under one Act, and same rate would be applicable in the other Act also. So, effectively, the composition rates (combined rate under CGST and SGST/UTGST) are 1%, 2% and 5% for normal supplier, manufacturer and restaurant service respectively, states the FAQ.

Will a taxable person, having multiple registrations, be eligible to opt for composition scheme only for a few of registrations?

The FAQ answers that all registered persons having the same Permanent Account Number (PAN) have to opt for composition scheme. If one registered person opts for normal scheme, others become ineligible for composition scheme.

As per Section 149 of the CGST/SGST Act, every registered person shall be assigned a compliance rating based on the record of compliance in respect of specified parameters. Such ratings shall also be placed in the public domain. A prospective client will be able to see the compliance ratings of suppliers and take a decision as to whether to deal with a particular supplier or not. This will create healthy competition amongst taxable persons.

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