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SAC CODE - 996753 : Vessel salvage and refloating services
GST RATE ON SAC CODE - 996753 IS 18%
| SAC CODE | Description |
|---|---|
| 9967 | Supporting services in transport |
| 99675 | Supporting services for water transport (coastal, transoceanic and inland waterways) |
| 996753 | Vessel salvage and refloating services |
Services Accounting Codes (SAC Codes) 996753 is used for the Vessel salvage and refloating services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Supporting services in transport.
How Services Accounting Codes (SAC Codes) 996753 - is Derived?
A uniform format is followed to generate the Service Accounting Code.
The first two digits are 99 always for services.
The next two digits 67 represent the major nature of service, Supporting services in transport in this case.
The next two digits 53 represent the detailed nature of service, Vessel salvage and refloating services in this case.
Explanation Of SAC CODE - 996753
This service code includes
- vessel salvage services, provided on inland, coastal and transoceanic waters, i.e. services consisting of recovering distressed and sunken vessels and their cargoes, including the raising of sunken vessels, the righting of capsized vessels and the refloating of stranded vessels;
- towing services for distressed vessels on coastal and transoceanic waters