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SAC CODE - 999122 : Services related to foreign economic aid
GST RATE ON SAC CODE - 999122 IS 18%
Services Accounting Codes (SAC Codes) 999122 is used for the Services related to foreign economic aid under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Public administration and other services provided to the community as a whole; compulsory social security services.
How Services Accounting Codes (SAC Codes) 999122 - 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 91 represent the major nature of service, Public administration and other services provided to the community as a whole; compulsory social security services in this case.
The next two digits 22 represent the detailed nature of service, Services related to foreign economic aid in this case.
Explanation Of SAC CODE - 999122
- public administrative services related to economic aid to developing countries, whether or not routed through international organizations
- administrative services provided by government offices, bureaux and programme units for non- military aid programmes to developing countries
- provision of or support for technical assistance and training
- international assistance such as refugee or hunger relief programme
- economic aid missions accredited to foreign governments