Browse SAC Code
Explore SAC Code of thousands of services.
SAC CODE - 998311 : Management consulting and management services including financial, strategic, human resources, marketing, operations and supply chain management.
GST RATE ON SAC CODE - 998311 IS 18%
Services Accounting Codes (SAC Codes) 998311 is used for the Management consulting and management services including financial, strategic, human resources, marketing, operations and supply chain management. under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Other professional, technical and business services.
How Services Accounting Codes (SAC Codes) 998311 - 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 83 represent the major nature of service, Other professional, technical and business services in this case.
The next two digits 11 represent the detailed nature of service, Management consulting and management services including financial, strategic, human resources, marketing, operations and supply chain management. in this case.
Explanation Of SAC CODE - 998311
This service code includes providing advice, guidance and operational assistance concerning decision areas that are financial in nature, such as:
- working capital and liquidity management, determination of an appropriate capital structure;
- analysis of capital investment proposals;
- asset management; development of accounting systems and budgeting and budgetary controls;
- financial consulting services related to mergers, acquisitions, etc. such as advice on methods of valuations, methods of payment, methods of control, international finance
This service code also includes providing advice, guidance and operational assistance concerning business policy and strategy and the overall planning, structuring and control of an organization. More specifically, general management consulting assignments may deal with one or a combination of the following:
- policy formulation;
- determination of the organizational structure (decision-making system) that will most effectively meet the objectives of the organization;
- legal organization;
- strategic business plans;
- corporate development and restructuring consulting services, such as on mergers, acquisitions, joint ventures, strategic alliances, diversification, privatization;
- defining a management information system;
- development of management reports and controls; business turnaround plans;
- management audits; development of profit improvement programmes; other matters that are of particular interest to the higher management of an organization
This service code also includes providing advice, guidance and operational assistance concerning the human resources strategies, policies, practices and procedures of an organization. Human resources consulting assignments may deal with one or more of the following:
- recruitment, compensation, benefits, performance measurement and appraisal;
- organizational development (improving functioning within and between groups); employee training and development needs;
- outplacement procedures and plans for assistance to employees;
- succession planning;
- compliance with government regulations in areas such as health, safety, workers' compensation and employment equity; labour-management relations; human resources audits
This service code also includes providing advice, guidance and operational assistance concerning the marketing strategy and marketing operation of an organization. Marketing management consulting assignments may deal with one or a combination of the following:
- analysis and formulation of a marketing strategy;
- formulation of customer service programmes, pricing, advertising and distribution channels;
- sales management and sales staff training;
- organization of marketing channels (sale to wholesalers or directly to retailers, direct mail, franchise, etc.), package design and other matters related to the marketing strategy and operations of an organization
This service code also includes
- providing advice, guidance and operational assistance concerning improvements to systems and procedures;
- improvements to office and service operations, such as office layout, workflow planning, work standards;
- office automation, such as the selection and installation of automated systems;
- product development, quality assurance and quality management; plant safety, security and protection;
- services provided by agronomists and agricultural economists
This service code also includes
- providing advice, guidance and operational assistance concerning integrated supply chain management, i.e. a bundled product that includes inventory management, warehousing and storage and distribution services;
- providing advice, guidance and operational assistance concerning logistic management, such as inventory management logistic consulting, that is keeping track of the existing inventory, determining the most effective inventory requirements for a client;
- distribution and transportation logistic consulting, including the processes used by a client to store, handle and move goods within an organization, to ship goods from the client to the customers; warehousing and storage logistic consulting including the processes of receiving, storing and issuing an item; maintenance logistics consulting;
- provision of a bundled service package that combines information technology-intensive services with labour (manual or professional depending on the solution), machinery and facilities to support, host and manage a business process for a client, including financial business processes, such as financial transaction processing, credit card processing, payment services, lending services; human resource business processes, such as benefits administration, payroll processing, personnel administration; supply chain management business processes, such as inventory management, procurement services, logistics services, production scheduling and order processing; customer relations management business processes, such as helpdesk, call centre, customer service; vertical market business processes, conducted by specific industries such as electric, chemical, petroleum; other business processes for a client; strategic management services provided by head offices to other units of the same company or enterprise;
- Other management consulting services, n.e.c.
This service code does not include:
- security brokerage services :- 997152
- portfolio management services (except for pension funds) :- 997153
- pension fund management :- 997164
- public relations services :- 998312
- advertising services :- 998361