GST Rate and HSN Code in Construction Services GST, short for Goods and Services Tax, stands as an indirect tax that has superseded various other indirect taxes in India like excise duty, VAT, and services tax. The enactment of the Goods and Service Tax Act occurred in Parliament on March ...
For instance, construction services of buildings fall under SAC code9954, with subcategories like residential, industrial, and commercial buildings classified further under group99541. The applicable GST rate for such services is18%, ensuring clear identification of the service type and accurate tax cal...
The SAC code is a similar concept to the HSN code. SAC stands for Service Accounting Codes, and it is a one-of-a-kind code used in India underneath the GT regime for the identification, evaluation, and taxation of services. As part of it: The starting two digits, i.e., 99 are the...
An established system for naming, categorising, and identifying products is known as the Harmonized System of Nomenclature (HSN). Read this blog to learn about paint HSN code.
For instance, construction services of buildings fall under SAC code9954, with subcategories like residential, industrial, and commercial buildings classified further under group99541. The applicable GST rate for such services is18%, ensuring clear identification of the service type and accurate tax cal...
Services Accounting Code (SAC) in GST The SAC code is a similar concept to the HSN code. SAC stands for Service Accounting Codes, and it is a one-of-a-kind code used in India underneath the GT regime for the identification, evaluation, and taxation of services. As part of it: ...