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SAC CODE FOR IMMOVABLE PROPERTY BY A PARTNERSHIP FIRM

Rate / HSN codes 549 views 2 replies
Please provide SAC code and rate of tax for renting immovable property by a partnership firm
Replies (2)
997211 Rental or leasing services involving own or leased residential property
997212 Rental or leasing services involving own or leased non-residential property

 

Residential renting....... Nil rate

Non-residential renting........ 18% GST

We manage 3-4 apartments for the owners, We give it on rent for short stays of 1, 2 days to 1 month and more. What will be the applicable GST rate?

Owner wants us to collect all the amount in our company and he lets us keep 20% of amount collected and remaning we need to send to him from our bank account.

Will the GST rate be on the total amount we recieve for the occupancy from short stay tenenats 

or

Will the GST rate be on the amount Owner let us retain ?


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