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SAC CODE - 997119 : Other financial services (except investment banking, insurance services and pension services)
GST RATE ON SAC CODE - 997119 IS 18%
Services Accounting Codes (SAC Codes) 997119 is used for the Other financial services (except investment banking, insurance services and pension 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) 997119 - 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 19 represent the detailed nature of service, Other financial services (except investment banking, insurance services and pension services) in this case.