997321
Leasing or rental services concerning home entertainment equipment, televisions, radios, video cassette recorders, projectors, audio systems and related equipment and accessories
Tax Calculator for 997321
E-Way Bill Rules
For leasing or rental services concerning home entertainment equipment, televisions, radios, video cassette recorders, projectors, audio systems and related equipment and accessories, 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 997321 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 (9973) is sufficient for B2B invoices.
Ensure that you charge 0% CGST and 0% SGST for intra-state supplies of leasing or rental services concerning home entertainment equipment, televisions, radios, video cassette recorders, projectors, audio systems and related equipment and accessories. For inter-state supplies, the full 0% IGST applies.
Frequently Asked Questions
Q: What is the GST Rate for HSN Code 997321?
The GST rate for HSN Code 997321 (Leasing or rental services concerning home entertainment equipment, televisions, radios, video cassette recorders, projectors, audio systems and related equipment and accessories) is 0%.
Q: Is HSN 997321 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 Leasing or rental services concerning home entertainment equipment, televisions, radios, video cassette recorders, projectors, audio systems and related equipment and accessories?
Multiply the taxable value by 0. For ₹1000 value, GST is ₹0.
Q: Does Reverse Charge (RCM) apply?
No, standard Forward Charge applies.
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