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SAC CODE - 997153 : Portfolio management services except pension funds

GST RATE ON SAC CODE - 997153 IS 18%


SAC CODE Description
9971Financial and related services
99715Services auxiliary to financial services (other than to insurance and pensions)
997153Portfolio management services except pension funds

Services Accounting Codes (SAC Codes) 997153 is used for the Portfolio management services except pension funds 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) 997153 - 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 53 represent the detailed nature of service, Portfolio management services except pension funds in this case.

Explanation Of SAC CODE - 997153

This service code includes:
  1.  managing portfolio assets of others, on a fee or commission basis, except for pension funds
Note: Managers make decisions on which investments to purchase or sell. Examples of the portfolios managed are the portfolios of mutual and other investment funds or trusts

This service code does not include:
  1. management of pension funds :- 997164
  2. personal financial planning advisory services not involving decision-making on behalf of clients :- 997159
  3. buying and selling of securities on a transaction fee basis :- 997152