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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
Dec 3, 2023 · Building Rent HSN Code under GST: The HSN code for building rent is 170 and falls under Chapter 99 - "Other Services." This code is used to classify services related to the renting or leasing of buildings, which include both residential and commercial properties. Office Rent HSN Code under GST: The HSN code for office rent is 210 and also falls ...
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.
Apr 10, 2019 · This service code includes: rental or leasing services concerning industrial, commercial or other non-residential buildings or property by owners or leaseholders, such as factories, office buildings, warehouses, theatres, convention centres, exhibition halls and multiple-use buildings that are primarily non- residential; agricultural, forestry ...
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.
Accurately classifying Leasing or rental services under the appropriate HSN code is crucial for several reasons: GST Compliance: Identifying and mentioning accurate HSN code is mandatory for GST compliance in India. The HSN code determines the GST rate applicable to each product or service.
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.
Aug 12, 2023 · The GST limit for shop rent is Rs. 20 lakh for normal states and Rs. 10 lakh for special states. This means that if the annual rental income from a shop premises exceeds the threshold limit, the landlord is required to register for GST and charge GST on the rent. What is the HSN code for shop rent and GST rate? The HSN code for shop rent is 997212.
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
Feb 19, 2020 · In this article, we will discuss about the applicability of GST on Rental Income from renting the commercial property as well as residential property, and we will also see various examples on inter-state and intra-state transactions.
