What is real estate HSN code?

The

HSN code for sale of residential flats under GST is 72111910.

The Harmonized System of Nomenclature (HSN) code is a system used for classifying goods and services for taxation purposes under the Goods and Services Tax (GST) regime.

Each type of good or service is assigned a unique HSN code to facilitate uniform classification and tax computation.

Real estate transactions, including the sale of land, buildings, and the HSN code for brokerage in real estate is 9972. Real estate transactions are typically not considered as goods but as services, and they fall under the category of "Construction Services".

Therefore, the

current HSN Code 9972 relates to Real estate and

service related to real estate. It is also the HSN code for sale of immovable property.

The HSN code for real estate construction services is generally classified under Heading 9954 of the Services Accounting Code (SAC) system. Within this heading, there are various subcategories and codes that specify different types of construction services.

For example, some common SAC codes related to real estate services include:

• SAC 995411: Construction services of buildings

• SAC 995412: Construction services of other residential buildings

• SAC 995413: Construction services of industrial buildings

• SAC 995414: Construction services of commercial buildings

• SAC 995415: Construction services of other non-residential buildings

These SAC codes are used to identify the type of construction service provided and determine the applicable GST rate for taxation purposes. This is all about the HSN code for real estate business.

.

 Read more

HSN Code or Harmonized System of Nomenclature was introduced by The World Customs Organization in 1988. This code is used to distinguish between various items on a global level. Since 1986, India has used HSN codes to distinguish between items from the Customs and the Central Excise. Customs and GST are currently covered under HSN codes. Earlier, the HSN codes contained only 6 digits in India but now the HSN codes are of 8 digits. Let me share the real estate HSN code.

What is the HSN code for real estate?

There are 21 sections in the current HSN code. There are 1244 sections total, separated into 99 chapters. The GST is made simpler and more widely accepted thanks to this scheme. Worldwide, six-digit HSN codes for products are prevalent. GST and Customs use standard HSN codes. For GST purposes, codes subtracted from customs duties are used. The subject (4 HS digits), sub-title (6 HS digits), and tax items are used to determine the HS code for tax purposes (8 digits).

Service related to real estate is covered by the current HSN Code 9972.

What is the HSN code real estate for import and export?

I must have cleared your doubt about the real estate HSN code.