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SAC CODE - 997171 : Services of holding equity of subsidiary companies
GST RATE ON SAC CODE - 997171 IS 18%
| SAC CODE | Description |
|---|---|
| 9971 | Financial and related services |
| 99717 | Services of holding financial assets |
| 997171 | Services of holding equity of subsidiary companies |
Services Accounting Codes (SAC Codes) 997171 is used for the Services of holding equity of subsidiary companies 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) 997171 - 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 71 represent the detailed nature of service, Services of holding equity of subsidiary companies in this case.
Explanation Of SAC CODE - 997171
This service code includes:
- services provided by holding companies, i.e. holding securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest