995414
Construction of a residential apartment by a promoter in an ongoing project under any of the schemes or categories specified below in respect of which the promoter has exercised option to pay central tax on construction of apartments at the rates as spec...
Tax Calculator for 995414
E-Way Bill Rules
For construction of a residential apartment by a promoter in an ongoing project under any of the schemes or categories specified below in respect of which the promoter has exercised option to pay central tax on construction of apartments at the rates as spec..., the E-Way Bill threshold is ₹50,000. Since the rate is 0%, you must generate a bill if the Taxable Value exceeds ₹50,000.
Example Calculation
- Base Value: ₹50,000
- + GST (0%): ₹0
- Total Invoice: ~₹50,000
Invoice Example
Breakdown for a sample invoice value of ₹1,000:
Can I claim ITC?
Yes, if used for business. This reduces your final cash liability.
Input Tax Credit (ITC) Logic
Compliance & Validation
HSN 995414 falls under Chapter 99. It is mandatory to mention this code on invoices if your annual turnover exceeds ₹5 Crore. For turnover below ₹5 Crore, mentioning the 4-digit code (9954) is sufficient for B2B invoices.
Ensure that you charge 0% CGST and 0% SGST for intra-state supplies of construction of a residential apartment by a promoter in an ongoing project under any of the schemes or categories specified below in respect of which the promoter has exercised option to pay central tax on construction of apartments at the rates as spec.... For inter-state supplies, the full 0% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 995414?
The GST rate for HSN Code 995414 (Construction of a residential apartment by a promoter in an ongoing project under any of the schemes or categories specified below in respect of which the promoter has exercised option to pay central tax on construction of apartments at the rates as spec...) is 0%.
Q: Is HSN 995414 eligible for Input Tax Credit (ITC)?
ITC availability is classified as 'eligible'. Generally, businesses can claim ITC unless used for personal consumption or blocked under Section 17(5).
Q: How to calculate GST amount for Construction of a residential apartment by a promoter in an ongoing project under any of the schemes or categories specified below in respect of which the promoter has exercised option to pay central tax on construction of apartments at the rates as spec...?
Multiply the taxable value by 0. For ₹1000 value, GST is ₹0.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.
Related Codes in Same Category
Construction services
Construction services of affordable residential apartments by a promoter in a Residential Real Estate Project or Real Estate Project other than Residential Real Estate Project, intended for sale to a buyer, wholly or partly, except where the entire consi...
Construction services of residential apartments other than affordable residential apartments by a promoter in a Residential Real Estate Project or Real Estate Project other than Residential Real Estate Project, intended for sale to a buyer, wholly or par...
Construction services of commercial apartments by a promoter in a Residential Real Estate Project, intended for sale to a buyer, wholly or partly, except where the entire consideration has been received after issuance of completion certificate, where req...