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.
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.|
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%|
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
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
Earliest of the following date shall be considered as time of supply for Lift and escalator installation services.