Boost Your B2B Sales with Getatoz

Get Listed Free
Browse SAC Code

Explore SAC Code of thousands of services.

SAC CODE - 998222 : Accounting and bookkeeping services

GST RATE ON SAC CODE - 998222 IS 18%


SAC CODE Description
9982Legal and accounting services
99822Accounting, auditing and bookkeeping services
998222Accounting and bookkeeping services

Services Accounting Codes (SAC Codes) 998222 is used for the Accounting and bookkeeping services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Legal and accounting services.

How Services Accounting Codes (SAC Codes) 998222 - 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 82 represent the major nature of service, Legal and accounting services in this case.

The next two digits 22 represent the detailed nature of service, Accounting and bookkeeping services in this case.

Explanation Of SAC CODE - 998222

This service code includes
  1. reviewing annual and interim financial statements and other accounting information. The scope of a review is less than that of an audit, and the level of assurance provided is thus lower;
  2. compilation of financial statements from information provided by the client. No assurances regarding the accuracy of the resulting statements are provided;
  3. preparation of business tax returns, when provided as a package with the preparation of financial statements for a single fee are classified here;
  4. compilation of income statements, balance sheets, etc;
  5. analysis of balance sheets, etc; other accounting services such as attestations, valuations, preparation of pro forma statements, etc.;
  6. classifying and recording business transactions in terms of money or some unit of measurement in the books of account;
  7. similar services provided by accountants.
This service code does not include:
  1. financial auditing services :- 998221
  2. tax preparation services, when provided as separate services :- 99823
  3. bookkeeping services related to tax returns :- 99823
  4. payroll services, including payroll computation and ledgers :- 998223