GST On Rate and SAC Code on Cleaning services
February 7, 2019
GST On Rate and SAC Code on Footware
February 9, 2019
Meaning of Lift and Escalator Installation Services
Lift and escalator installation services provided by service provider are towards commercial and residential use. Services provider uses equipment’s , tools etc. These are services towards installation of lifts and escalators. Safety is important element for installation.
In this article we discussing about GST On Rate and SAC Code on Lift and escalator installation services.
What is SAC Code For Lift & Escalator Installation Services ?
SAC Code For Lift and Escalator Installation Services as below. SAC code for Lift and escalator installation services fall under two categories of the SAC headings. First two digits are same for all, Next two SAC code Signify as major service and last code Signify detailed nature of service. SAC Code For Cleaning Services as below.
| Group 99546 | Installation services |
| 995466 | Lift and escalator installation services |
| 995468 | Other installation services n.e.c. |
| 995469 | Services involving Repair, alterations, additions, replacements, maintenance of the installations covered above. |
What is GST Rate on Lift and Escalator Installation Services ?
Below is GST Rate on Lift and escalator installation services.
| Group 99546 | Installation services | GST Rate |
| 995466 | Lift and escalator installation services | 18% |
| 995468 | Other installation services n.e.c. | 18% |
| 995469 | Services involving Repair, alterations, additions, replacements, maintenance of the installations covered above. | 18% |
GST Registration for Lift and Escalator Installation Services
Section 22 to 25 specifies the persons who are liable to obtain GST Registration.
Every person who is engaged in supply of Lift and escalator installation services services will be liable to be registered under the GST if
- Aggregate Turnover in a financial year of taxable supply of goods or services exceeds Rs. 20 Lac or (Turnover > 20 Lac)
- Aggregate Turnover in a financial year of taxable supply of goods or services exceeds Rs. 10 Lac if person is located at North Eastern area ( Manipur , Arunachal Pradesh , Nagaland , Meghalaya , Assam , Tripura & Mizoram , Sikkim , Jammu & Kashmir , HimachalPradesh & Uttarakhand ) ( Turnover > 10 Lac )
GST Return filing for Lift and Escalator Installation Services ?
- GSTR 3 B Each Month by 20 th of next month.
- GST registration holder would have to file GSTR-1 ( based on turnover its monthly or quarterly )
- Finally, annual GST return must be filed by all GST registered entities on/before the 31st of December.
GST Credit ITC For Lift and Escalator Installation Services Provider
A registered taxpayer under Lift and escalator installation services can claim the credit of taxes paid by him on inward supplies if he has a valid invoice and taxes are deposited by the supplier to the Govt. The input tax credit so claim by a recipient shall be reversed if he doesn’t make payment of the amount towards the value of supply of goods or services along with tax payable thereon within a period of 180 days.
Conditions to Claim GST ITC Credit
- Recipient has valid tax invoice / Debit Note / Bill of Entry
- Goods or Services are received
- Taxes are paid to Govt. ( From Supplier side )
- GST Return is filed
When GST become Payable for Lift and escalator installation services?
Earliest of the following date shall be considered as time of supply for Lift and escalator installation services.
- When invoice is issued
- When invoice is not issued in 30 days from date of supply of service
- Date of receipt of services in books of account of service recipient
Read GST Return Filing For Lift and Escalator Installation Services
