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SAC CODE - 997162 : Insurance claims adjustment services
GST RATE ON SAC CODE - 997162 IS 18%
| SAC CODE | Description |
|---|---|
| 9971 | Financial and related services |
| 99716 | Services auxillary to insurance and pensions |
| 997162 | Insurance claims adjustment services |
Services Accounting Codes (SAC Codes) 997162 is used for the Insurance claims adjustment 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) 997162 - 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 62 represent the detailed nature of service, Insurance claims adjustment services in this case.
Explanation Of SAC CODE - 997162
This service code includes:
- services of investigating insurance claims, determining the amount of loss or damages covered by insurance policies and negotiating settlements
- services of examining claims which have been investigated and authorization of payments
- damage assessment services