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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
- FAQs on the Real Estate Sector under GST - ClearTax
Real estate sector in India is impacted by GST, with new...
- FAQs on the Real Estate Sector under GST - ClearTax
1 dzień temu · The GST rate applicable to the property varies based on whether it qualifies as affordable housing or not. Works Contracts A works contract in real estate involves the provision of both goods and services for the construction of an immovable property. Under GST, such contracts are categorized as services and are subject to an 18% GST rate.
Properly identifying Real estate services with the right HSN code is critical for multiple reasons: GST Compliance: Accurately including the HSN code is mandatory for GST compliance in India. The code defines the GST rate applicable to each product or service.
Use ClearTax HSN Calculator to find out the HSN code for your product. Our ClearTax GST Software has all the HSN codes inbuilt. You need to select the items you sell only once in the Item Master. Once you are done, your HSN code will be automatically populated in all your invoices and returns.
For an accurate levy of GST rates prevalent in India, correct HSN or SAC code is necessary during Return filing. This would ensure seamless compliance of GST rules. Taxmann’s One Solution offers hassle-free experience where all you have to do is to choose the correct HSN/SAC Code for goods or services, while migrating to GST software.
13 cze 2024 · Real estate sector in India is impacted by GST, with new rates applicable on various housing projects. Affordable housing projects see reduced rates at 1% and 5%. ITC benefits are not available under the new tax rate policy.
Once you find the 4-digit code, click it to view the full 6 or 8-digit HSN code and applicable GST rates. Search by HSN Code: If you know part of the HSN code (first 2 or 4 digits), enter it into the search bar. Our system will fetch more detailed information on the code, including GST rates and product categories.
