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Do much more than verifying HSN/SAC codes with ClearTax GST, India's most trusted billing and GST solution where reconciliation is made easy through intelligent inbuilt validations and tools. Calculate monthly Pension & Tax Benefits through Cleartax NPS Calculator
There might be potential confusion when businesses need to decide on the appropriate HSN code for their rental services. The choice between HSN code 170 and HSN code 210 depends on the type of property being rented out. Thus, you must classify rental services under the correct HSN code accurately to ensure proper tax compliance.
Dec 20, 2022 · Understand GST on residential and commercial property rent. From July 2017 to date, learn about exemptions, rates, and recent amendments. FAQs on GST for landlords and tenants answered.
Real Estate Services. Origin Chapter: Chapter 99. Disclaimer: Rates given above are updated up to the GST (Rate) notification no. 05/2020 dated 16th October 2020 to the best of our information. We have sourced the HSN code information from the master codes published on the NIC's GST e-Invoice system.
Apr 28, 2023 · The HSN code for rent is crucial for businesses that provide rental services, as it determines the rate of tax applicable on the rental income. The GST rate for rental services is 18% for most services, including renting of commercial or residential property, machinery and equipment, and vehicles.
Search and Find HSN Codes, SAC codes & GST Rates of goods and services under GST in India. Under GST, tax slabs have been fixed at 0%, 5%, 12%, 18% and 28% Products
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Feb 2, 2024 · What is the HSN code for rent? The HSN code for rent in India is 997212. It falls under the category of “Rental services of personal and household goods,” specifically classified as “Leasing or rental services concerning machinery and equipment. Which rental services fall under the HSN code for rent?
The HSN CODE FOR Rental or leasing services involving own or leased non-residential property is 997212. The full form of HSN Code is Harmonized System of Nomenclature. It was introduced in 1988 by the World Customs Organization (WCO). It is a 6-digit code that separates different products.
Finding the right HSN code, like the one discussed for Leasing or rental services is very important for GST compliance and accurate tax calculation. Here’s different ways to find the correct HSN code for your product in India.
