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SAC CODE - 998512 : Permanent placement services, other than executive search services
GST RATE ON SAC CODE - 998512 IS 18%
Services Accounting Codes (SAC Codes) 998512 is used for the Permanent placement services, other than executive 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) 998512 - 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 12 represent the detailed nature of service, Permanent placement services, other than executive search services in this case.
Explanation Of SAC CODE - 998512
This service code includes
- testing, interviewing, reference checking, evaluation and counselling of prospective employees;
- recruiting, selecting and referring candidates to the client to fill positions on a permanent (indeterminate) basis;
- booking and casting services for motion picture, television and other theatrical casting services
Note: The services may be procured by the potential employer or by the prospective employee. The candidate is selected and hired by the prospective employer. The placement firm is paid on a contingency basis, i.e., only for successful placement of a candidate. This service code includes permanent placement services for a complete range of occupations from low-level employees to management employees, including executives, except those recruited through executive/retained search, and for domestic or international job placements.