996763
Maintenance, repair or overhaul services in respect of aircrafts, aircraft engines and other aircraft components or parts
Tax Calculator for 996763
E-Way Bill Rules
For maintenance, repair or overhaul services in respect of aircrafts, aircraft engines and other aircraft components or parts, 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:
Why is RCM Applicable?
Since this is a specific category (likely Transport or Legal), the recipient pays the tax directly.
How Reverse Charge (RCM) Works
Can I claim ITC?
Yes, if used for business. This reduces your final cash liability.
Input Tax Credit (ITC) Logic
Compliance & Validation
HSN 996763 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 (9967) is sufficient for B2B invoices.
Ensure that you charge 0% CGST and 0% SGST for intra-state supplies of maintenance, repair or overhaul services in respect of aircrafts, aircraft engines and other aircraft components or parts. For inter-state supplies, the full 0% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 996763?
The GST rate for HSN Code 996763 (Maintenance, repair or overhaul services in respect of aircrafts, aircraft engines and other aircraft components or parts) is 0%.
Q: Is HSN 996763 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 Maintenance, repair or overhaul services in respect of aircrafts, aircraft engines and other aircraft components or parts?
Multiply the taxable value by 0. For ₹1000 value, GST is ₹0.
Q: Does Reverse Charge (RCM) apply?
Yes, RCM typically applies if purchased from unregistered suppliers.
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