GST Tip – 274

As per Notification No. 11/2017-Central Tax (Rate), services falling under HSN /SAC Code 9972, the rate for central taxes is 9%. The services covered are Real estate services involving owned or leased property & Real estate services on a fee/commission basis or contract basis.

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GST Tip – 272

As per Notification No. 11/2017-Central Tax (Rate), services falling under HSN / SAC Code 9965 i.e for Goods transport services, the applicable CGST rate is cases for transportation of goods by Rail, Vessel and by GTA it is 2.5% and for Transport of goods in containers by rail by any person other than Indian Railways it is 6% and in all other cases it is 9%.

GST Tip – 270

Services falling under HSN / SAC Code 996111 are given in Notification No. 11/2017-Central Tax (Rate), serial no 5 and they are services in wholesale trade includes, Services of commission agents, commodity brokers, and auctioneers and all other traders who negotiate wholesale commercial transactions between buyers and sellers, for a fee or commission’, Services of electronic wholesale agents and brokers and Services of wholesale auctioning houses.

GST Tip – 268

As per Notification No. 11/2017-Central Tax (Rate), construction services falling under heading 9954, where it is involving transfer of property in land or undivided share of land, as the case may be, the value of supply of service and goods portion in such supply shall be equivalent to the total amount charged for such supply less the value of land or undivided share of land, as the case may be, and the value of land or undivided share of land, as the case may be, in such supply shall be deemed to be one third of the total amount charged for such supply. This means the value of the land can be reduced from the transaction value and then only taxes under GST has to be computed.