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SAC CODE - 998517 : Co-employment staffing services
GST RATE ON SAC CODE - 998517 IS 18%
| SAC CODE | Description |
|---|---|
| 9985 | Support services |
| 99851 | Employment services including personnel search/referral service & labour supply service |
| 998517 | Co-employment staffing services |
Services Accounting Codes (SAC Codes) 998517 is used for the Co-employment staffing 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) 998517 - 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 17 represent the detailed nature of service, Co-employment staffing services in this case.
Explanation Of SAC CODE - 998517
This service code includes supplying of personnel through a staffing arrangement in which an organization, i.e. a Professional Employer Organization (PEO), co-employs a client's workforce.
Note: The PEO and the client enter into a contractual agreement whereby the rights and responsibilities in respect of co-employees are shared or allocated, with the service provider assuming responsibility for certain activities as agreed with the client. These range from basic to full- service packages.