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SAC CODE - 997154 : Trust and custody services
GST RATE ON SAC CODE - 997154 IS 18%
| SAC CODE | Description |
|---|---|
| 9971 | Financial and related services |
| 99715 | Services auxiliary to financial services (other than to insurance and pensions) |
| 997154 | Trust and custody services |
Services Accounting Codes (SAC Codes) 997154 is used for the Trust and custody 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) 997154 - 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 54 represent the detailed nature of service, Trust and custody services in this case.
Explanation Of SAC CODE - 997154
This service code includes:
- estate and trust management and administration services
- services of acting as a trustee of investment funds or pension funds
- services of acting as trustee for securities (administrative services related to the issue and registration of securities, and payment of interest and dividends)
- provision, under instructions, of safekeeping of and accounting for valuable and usually income- bearing personal property, including securities
- safekeeping services
- safe deposit services
- security custody services
- audit confirmation services with respect to customers' securities held for safekeeping