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SAC CODE - 998621 : Support services to oil and gas extraction

GST RATE ON SAC CODE - 998621 IS 18%


SAC CODE Description
9986Support services to agriculture, hunting, forestry, fishing, mining and utilities.
99862Support services to mining
998621Support services to oil and gas extraction

Services Accounting Codes (SAC Codes) 998621 is used for the Support services to oil and gas extraction 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 to agriculture, hunting, forestry, fishing, mining and utilities..

How Services Accounting Codes (SAC Codes) 998621 - 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 86 represent the major nature of service, Support services to agriculture, hunting, forestry, fishing, mining and utilities. in this case.

The next two digits 21 represent the detailed nature of service, Support services to oil and gas extraction in this case.

Explanation Of SAC CODE - 998621

This service code includes derrick erection, repair and dismantling services; well casing, cementing, pumping, plugging and abandoning of wells; test drilling and exploration services in connection with petroleum and gas extraction; specialized fire extinguishing services; operation of oil or gas extraction unit on a fee or contract basis

This service code does not include:
  1. geological, geophysical and related prospecting and consulting services :- 998341