Ready to Move is exempt from Goods and Services Tax in India under SAC code 995411.
Ready to Move is classified under SAC code 995411 for GST purposes. The Services Accounting Code (SAC) is used to classify services under GST. This code must be mentioned on GST invoices when billing for ready to move.
Ready-to-move-in flats with completion certificate are exempt from GST since July 2017. GST only applies to under-construction properties sold before obtaining the completion certificate.
Since ready to move is exempt from GST, input tax credit is not available on exempt supplies. Businesses dealing exclusively in exempt goods/services cannot claim ITC on their inputs.
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Ready to Move is exempt from GST in India (0% rate). No GST is charged on the supply of ready to move.
The SAC code for Ready to Move is 995411. SAC (Services Accounting Code) is used to classify services under GST. This code should be mentioned on all GST invoices.
Since ready to move is exempt from GST, no GST needs to be calculated. The selling price is the final price with no additional tax.
No, input tax credit is not available on exempt supplies like ready to move. Businesses dealing in exempt goods cannot claim ITC on related inputs.
Ready-to-move-in flats with completion certificate are exempt from GST since July 2017. GST only applies to under-construction properties sold before obtaining the completion certificate.