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SAC CODE - 997151 : Services related to investment banking such as mergers & acquisition services, corporate finance & venture capital services
GST RATE ON SAC CODE - 997151 IS 18%
Services Accounting Codes (SAC Codes) 997151 is used for the Services related to investment banking such as mergers & acquisition services, corporate finance & venture capital 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) 997151 - 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 51 represent the detailed nature of service, Services related to investment banking such as mergers & acquisition services, corporate finance & venture capital services in this case.
Explanation Of SAC CODE - 997151
- services of counsellors and negotiators in arranging mergers and acquisitions
- services of arranging corporate financing, including debt financing, equity financing, venture capital financing
- other services related to investment banking n.e.c.
- portfolio management services :- 997153
- trust and custody services :- 997154
- stock price quotation services made available through an information server :- 998439
- supply of financial news to the news media :- 99844
FAQs on SAC Code 997151
What is SAC Code 997151?
SAC Code 997151 refers to "Services related to investment banking such as mergers & acquisition services, corporate finance & venture capital services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Financial and related services".
What is the GST rate applicable on SAC Code 997151?
The GST rate for SAC Code 997151 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 997151?
This service code includes:services of counsellors and negotiators in arranging mergers and acquisitionsservices of arranging corporate financing, including debt financing, equity financing, venture capital financingother services related t…
Is SAC Code 997151 the same as HSN Code 997151?
No. SAC codes are used for services, whereas HSN codes are used for goods. Since services fall under GST Chapter 99, SAC codes are sometimes informally referred to as HSN codes in common searches.
How is SAC Code 997151 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Financial and related services", and the last two digits specify the detailed nature of the service "Services related to investment banking such as mergers & acquisition services, corporate finance & venture capital services".
Where can I verify the latest GST rate for SAC Code 997151?
You can verify the latest and applicable GST rate from the official CBIC website at https://www.cbic.gov.in.
Disclaimer: The information provided above is for general reference only. SAC descriptions and GST rates are subject to change based on notifications issued by the Government of India. Users are advised to verify the latest and applicable details from the official CBIC (Central Board of Indirect Taxes & Customs) website.