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SAC CODE - 997114 : Financial leasing services
GST RATE ON SAC CODE - 997114 IS 18%
| SAC CODE | Description |
|---|---|
| 9971 | Financial and related services |
| 99711 | Financial services (except investment banking, insurance services and pension services) |
| 997114 | Financial leasing services |
Services Accounting Codes (SAC Codes) 997114 is used for the Financial leasing services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Financial and related services.
How Services Accounting Codes (SAC Codes) 997114 - 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 71 represent the major nature of service, Financial and related services in this case.
The next two digits 14 represent the detailed nature of service, Financial leasing services in this case.
Explanation Of SAC CODE - 997114
This service code includes:
- services of making equipment and other assets available to a customer without capital investment on the customer's part, whereby the lessor pays for and takes title to the equipment or facilities and leases it to the lessee while retaining few of the normal responsibilities of ownership
This service code does not include:
- operating leasing services :- 9973