SAC Heading 9972 – renting of residential dwelling for use as residence

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Results for 9972

18 results

Type	Level	Code & description	IGST	CGST	SGST	UGST
SAC	Heading	9972 — Services by way of renting of residential dwelling for use as residence.	0%	-	-	-
SAC	Heading	9972 — Services by a person by way of- (a) conduct of any religious ceremony; (b) renting of precincts of a religious place meant for general public, owned or managed by an entity registered as a charitable or religious trust under section 12AA of the Income-tax Act, 1961 (hereinafter referred to as the Income-tax Act) or a trust or an institution registered under sub clause (v) of clause (23C) of section 10 of the Income-tax Act or a body or an authority covered under clause (23BBA) of section 10 of the said Income-tax Act: Provided that nothing contained in entry (b) of this exemption shall apply to,- (i) renting of rooms where charges are 1000 rupees or more per day; (ii) renting of premises, community halls, kalyanmandapam or open area, and the like where charges are 10,000 rupees or more per day; (iii) renting of shops or other spaces for business or commerce where charges are 10000 rupees or more per month.	0%	-	-	-
SAC	Heading	9972 — Upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable in respect of service by way of granting of long term lease of thirty years, or more) of industrial plots or plots for development of infrastructure for financial business, provided by the State Government Industrial Development Corporations or Undertakings or by any other entity having 50 per cent. or more ownership of Central Government, State Government, Union territory to the industrial units or the developers in any industrial or financial business area. substituted on 13/10/2017	0%	-	-	-
SAC	Heading	9972 — (i) Services by the Central Government, State Government, Union territory or local authority to governmental authority or government entity, by way of lease of land.	0%	0%	0%	0%
SAC	Heading	9972 — (ii) Supply of land or undivided share of land by way of lease or sub lease where such supply is a part of composite supply of construction of flats, etc. specified in the entry in column (3), against serial number 3, at item (i); sub-item (b), sub-item (c), subitem (d), sub-item (da) and sub-item (db) of item (iv); sub-item (b), sub-item (c), sub-item (d) and sub-item (da) of item (v); and sub-item (c) of item (vi). Provided that nothing contained in this entry shall apply to an amount charged for such lease and sub-lease in excess of one third of the total amount charged for the said composite supply. Total amount shall have the same meaning for the purpose of this proviso as given in paragraph 2 of this notification.	0%	0%	0%	0%
SAC	Heading	9972 — (iii) Real estate services other than (i) and (ii) above.	18%	9%	9%	9%
SAC	Heading	9972 — Upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable in respect of service by way of granting of long term lease of thirty years, or more) of industrial plots or plots for development of infrastructure for financial business, provided by the State Government Industrial Development Corporations or Undertakings or by any other entity having 20 per cent. or more ownership of Central Government, State Government, Union territory to the industrial units or the developers in any industrial or financial business area. Condition: Provided that the leased plots shall be used for the purpose for which they are allotted, that is, for industrial or financial activity in an industrial or financial business area: Provided further that the State Government concerned shall monitor and enforce the above condition as per the order issued by the State Government in this regard:	0%	0%	0%	0%
SAC	Heading	9972 — Service by way of transfer of development rights (herein refer TDR) or Floor Space Index (FSI) (including additional FSI) on or after 1st April, 2019 for construction of residential apartments by a promoter in a project, intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier. Condition: Provided that the promoter shall be liable to pay tax at the applicable rate, on reverse charge basis, on such proportion of value of development rights, or FSI (including additional FSI), or both, as is attributable to the residential apartments, which remain un-booked on the date of issuance of completion certificate, or first occupation of the project, as the case may be, in the following manner -	0%	0%	0%	0%
SAC	Heading	9972 — Upfront amount (called as premium, salami, cost, price, development charges or by any other name) payable in respect of service by way of granting of long term lease of thirty years, or more, on or after 01.04.2019, for construction of residential apartments by a promoter in a project, intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where required, by the competent authority or after its first occupation, whichever is earlier. Condition: Provided that the promoter shall be liable to pay tax at the applicable rate, on reverse charge basis, on such proportion of upfront amount (called as premium, salami,cost, price,development charges or by any other name) paid for long term lease of land, as is attributable to the residential apartments, which remain un- booked on the date of issuance of completion certificate, or first occupation of the project, as the case may be, in the following manner -	0%	0%	0%	0%
SAC	Service code	997211 — Rental or leasing services involving own or leased residential property	18%	-	-	-
SAC	Service code	997212 — Rental or leasing services involving own or leased non-residential property	18%	-	-	-
SAC	Service code	997213 — Trade services of buildings	18%	-	-	-
SAC	Service code	997214 — Trade services of time-share properties	18%	-	-	-
SAC	Service code	997215 — Trade services of vacant and subdivided land	18%	-	-	-
SAC	Service code	997221 — Property management services on a fee/commission basis or contract basis	18%	-	-	-
SAC	Service code	997222 — Building sales on a fee/commission basis or contract basis	18%	-	-	-
SAC	Service code	997223 — Land sales on a fee/commission basis or contract basis	18%	-	-	-
SAC	Service code	997224 — Real estate appraisal services on a fee/commission basis or contract basis	18%	-	-	-

Understanding the 9972 SAC code

SAC 9972 is a 4-digit heading under Chapter 99. This page shows the 6-digit service codes and applicable GST details available under this heading.

Heading 9972 — Real Estate Services

Service codes under this heading 9972

SAC Code	Description
997211	Rental or leasing services involving own or leased residential property
997212	Rental or leasing services involving own or leased non-residential property
997213	Trade services of buildings
997214	Trade services of time-share properties
997215	Trade services of vacant and subdivided land
997221	Property management services on a fee/commission basis or contract basis
997222	Building sales on a fee/commission basis or contract basis
997223	Land sales on a fee/commission basis or contract basis
997224	Real estate appraisal services on a fee/commission basis or contract basis

Source

HSN classification and GST rate information is based on official GST/CBIC rate schedules and notifications. WealthView updates its database when official changes are published. For the latest applicability, refer to the current official GST/CBIC notifications and rate schedules.