Browse SAC Code
Explore SAC Code of thousands of services.
SAC CODE - 998511 : Executive/retained personnel search services
GST RATE ON SAC CODE - 998511 IS 18%
| SAC CODE | Description |
|---|---|
| 9985 | Support services |
| 99851 | Employment services including personnel search/referral service & labour supply service |
| 998511 | Executive/retained personnel search services |
Services Accounting Codes (SAC Codes) 998511 is used for the Executive/retained personnel search services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Support services.
How Services Accounting Codes (SAC Codes) 998511 - 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 85 represent the major nature of service, Support services in this case.
The next two digits 11 represent the detailed nature of service, Executive/retained personnel search services in this case.
Explanation Of SAC CODE - 998511
This service code includes
- provision of intermediation services between prospective employees and employers;
- specialized search and recruitment service limited to filling highly paid executive, senior manager, and professional positions, according to client specifications, including conducting detailed interviews with the client organization's management team, developing job profiles, conducting original research and advertising to locate potential job candidates, screening possible candidates, preparing, presenting, and discussing a confidential list of highly qualified applicants with the client, making interview arrangements, negotiating compensation, and providing post-hire follow- up
Note: The prospective employee/client makes the decision as to which candidate to hire. The fee for the services provided is charged whether or not the candidate is hired. This service is also known as retained search.