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SAC CODE - 99717 : Services of holding financial assets


SAC CODE Description
9971Financial and related services
99717Services of holding financial assets
997171Services of holding equity of subsidiary companies
997172Services of holding securities and other assets of trusts and funds and similar financial entities

Services Accounting Codes (SAC Codes) 99717 is used for the Services of holding financial assets 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.

Explanation Of SAC CODE - 99717

This service code includes:
  1. services provided by legal entities that are organized to pool securities or other financial assets, without managing, on behalf of shareholders or beneficiaries

FAQs on SAC Code 99717

What is SAC Code 99717?

SAC Code 99717 refers to "Services of holding financial assets" 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 99717?

The GST rate for SAC Code 99717 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 99717?

This service code includes:services provided by legal entities that are organized to pool securities or other financial assets, without managing, on behalf of shareholders or beneficiaries

Is SAC Code 99717 the same as HSN Code 99717?

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 99717 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 of holding financial assets".

Where can I verify the latest GST rate for SAC Code 99717?

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.