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SAC CODE - 997215 : Trade services of vacant and subdivided land
GST RATE ON SAC CODE - 997215 IS 18%
| SAC CODE | Description |
|---|---|
| 9972 | Real estate services |
| 99721 | Real estate services involving owned or leased property |
| 997215 | Trade services of vacant and subdivided land |
Services Accounting Codes (SAC Codes) 997215 is used for the Trade services of vacant and subdivided land under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Real estate services.
How Services Accounting Codes (SAC Codes) 997215 - 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 72 represent the major nature of service, Real estate services in this case.
The next two digits 15 represent the detailed nature of service, Trade services of vacant and subdivided land in this case.
Explanation Of SAC CODE - 997215
This service code includes:
- sales on own account of vacant residential or non-residential land in cases where the sales are treated as sales of trading stock by the seller. Such vacant land can include subdivided vacant land.