Question 44:
What is SAC code of DG set generator and tax rate and SAC code of DG set for giving rent to other party and tax rate.
Answer
As per S.No 17 (iii) of Notification No. 11/2017-Central tax with
Annexure attached to notification " Renting of Generator set or DG set " is
classified under SAC code 9973 with same rate of integrated tax as on supply of
like goods involving transfer of title in goods i.e rate on generator @ 18%.
S.no 17(iii) is reproduced herewith for your reference :-
Notification No. 11/2017-Central Tax (Rate)
|
17.Heading 9973(Leasing or rental services, with or without operator) |
|
|
|
(i) Temporary or permanent transfer or permitting the use or enjoyment of Intellectual Property (IP) right in respect of goods other than Information Technology software. |
6 |
- |
|
(ii) Temporary or permanent transfer or permitting the use or enjoyment
of Intellectual Property (IP) right in respect of Information Technology
software. |
9 |
- |
|
(iii) Transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration. |
Same rate of central tax as on supply of like goods involving transfer of title in goods |
(Reply dt. 28/05/2018)