CBIC specify class of registered person/ supply require mentioning HSN

CBIC specify class of registered person/ supply require mentioning HSN CBIC amended CGST Rules empowering the Board to specify a class of re

A2ZBimal Jain

Oct 19, 2020

Last update on Oct 19, 2020

CBIC specify class of registered person/ supply require mentioning HSN CBIC amended CGST Rules empowering the Board to specify a class of registered person or supply of goods or services require mentioning HSN code The CBIC vide Notification No. 79/2020- Central Tax dated October 15, 2020, substituted the first proviso to Rule 46 of the Central Goods and Services Tax Rules, 2017 (“CGST Rules”) to expand the power of the CBIC to specify a class of supply of goods or services for which a specified number of digits of Harmonised System of Nomenclature code shall be required to be mentioned. Now it read as under: [caption id="attachment_91970" align="aligncenter" width="294"] CBIC specify class of registered person/ supply require mentioning HSN

CBIC specify the class of registered person/ supply requires mentioning HSN[/caption]

“Provided that the Board may, on the recommendations of the Council, by notification, specify-

(i) the number of digits of Harmonised System of Nomenclature code for goods or services that a class of registered persons shall be required to mention; or

(ii) a class of supply of goods or services for which specified number of digits of Harmonised System of Nomenclature code shall be required to be mentioned by all registered taxpayers; and

(iii) the class of registered persons that would not be required to mention the Harmonised System of Nomenclature code for goods or services:”

Note: This has been specified vide Notification No. 78/2020- Central Tax dated 15.10.2020. DISCLAIMER: The views expressed are strictly of the author and A2Z Taxcorp LLP. The contents of this article are solely for informational purpose. It does not constitute professional advice or recommendation of firm. Neither the author nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this article nor for any actions taken in reliance thereon.

About Author

A2ZBimal Jain

Chartered Accountant

CA Bimal Jain is a Member of Institute of Chartered Accountants of India since May 1994 and Member of Institute of Company Secretaries of India since December 2006 along with a Bachelors degree in Law. Also, he is a Qualified SAP - FI/CO Consultant and has more than 21 years of experience in Indirect Taxation and specializes in all aspects of Service Tax, Value Added Tax (VAT)/ Central Sales Tax (CST), Central Excise, Customs, Foreign Trade Policy (FTP), Special Economic Zone (SEZ), Export Oriented Unit (EOU), Export-Import Laws and well acquainted with the concept and impact of way forward Goods and Services tax (GST).