A residential flat Developer ( Individual ) will transfer one of his flat in next week of which completion certificate has issued. Promoter has GSTIN and taxes to be collected from purchaser an Individual. Transfer Deed value will be Rs. 1560375/-. This total value comprising Utility and Security value Rs.72000/- and flat value Rs.14,88,375/-. My queries are :
a. What will be his HSN/SAC code for residential flat.
b. What will be Tax Rate for this purpose.
c. Invoice format will be as per goods or service
d. Whether this tax amount will be collected in cash by promoter upto Rs.20000/-
Please share your comments ....