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SAC CODE - 997136 : Freight insurance services & Travel insurance services
GST RATE ON SAC CODE - 997136 IS 18%
| SAC CODE | Description |
|---|---|
| 9971 | Financial and related services |
| 99713 | Insurance and pension services (excluding reinsurance services) |
| 997136 | Freight insurance services & Travel insurance services |
Services Accounting Codes (SAC Codes) 997136 is used for the Freight insurance services & Travel insurance 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) 997136 - 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 36 represent the detailed nature of service, Freight insurance services & Travel insurance services in this case.
Explanation Of SAC CODE - 997136
This service code includes:
- underwriting services of insurance policies which provide coverage, additional to that provided by transport companies, for risks of damage to or loss of freight
- underwriting services of insurance policies which provide protection for travel related expenses (typically provided in a package), such as trip cancellation, interruption or delay, lost, delayed or damaged luggage, accident and health medical expenses, repatriation of remains
This service code does not include:
- motor vehicle insurance :- 997134