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SAC CODE - 998722 : Repair services of watches, clocks and jewellery
GST RATE ON SAC CODE - 998722 IS 18%
| SAC CODE | Description |
|---|---|
| 9987 | Maintenance, repair and installation (except construction) services |
| 99872 | Repair services of other goods |
| 998722 | Repair services of watches, clocks and jewellery |
Services Accounting Codes (SAC Codes) 998722 is used for the Repair services of watches, clocks and jewellery under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Maintenance, repair and installation (except construction) services.
How Services Accounting Codes (SAC Codes) 998722 - 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 87 represent the major nature of service, Maintenance, repair and installation (except construction) services in this case.
The next two digits 22 represent the detailed nature of service, Repair services of watches, clocks and jewellery in this case.
Explanation Of SAC CODE - 998722
FAQs on SAC Code 998722
What is SAC Code 998722?
SAC Code 998722 refers to "Repair services of watches, clocks and jewellery" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Maintenance, repair and installation (except construction) services".
What is the GST rate applicable on SAC Code 998722?
The GST rate for SAC Code 998722 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 998722?
This service code includes repair and alteration services for watches, clocks and jewellery
Is SAC Code 998722 the same as HSN Code 998722?
No. SAC codes are used for services, whereas HSN codes are used for goods. Since services fall under GST Chapter 99, SAC codes are sometimes informally referred to as HSN codes in common searches.
How is SAC Code 998722 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Maintenance, repair and installation (except construction) services", and the last two digits specify the detailed nature of the service "Repair services of watches, clocks and jewellery".
Where can I verify the latest GST rate for SAC Code 998722?
You can verify the latest and applicable GST rate from the official CBIC website at https://www.cbic.gov.in.
Disclaimer: The information provided above is for general reference only. SAC descriptions and GST rates are subject to change based on notifications issued by the Government of India. Users are advised to verify the latest and applicable details from the official CBIC (Central Board of Indirect Taxes & Customs) website.