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SAC CODE - 999692 : Gambling and betting services including similar online services
GST RATE ON SAC CODE - 999692 IS 28%
| SAC CODE | Description |
|---|---|
| 9996 | Recreational, cultural and sporting services |
| 99969 | Other amusement and recreational services |
| 999692 | Gambling and betting services including similar online services |
Services Accounting Codes (SAC Codes) 999692 is used for the Gambling and betting services including similar online services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Recreational, cultural and sporting services.
How Services Accounting Codes (SAC Codes) 999692 - 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 96 represent the major nature of service, Recreational, cultural and sporting services in this case.
The next two digits 92 represent the detailed nature of service, Gambling and betting services including similar online services in this case.
Explanation Of SAC CODE - 999692
- on-line gambling services
- on-line games involving betting/gambling.
- off-track betting,
- casino and gambling house services
- gambling slotmachine services
- other similar services
FAQs on SAC Code 999692
What is SAC Code 999692?
SAC Code 999692 refers to "Gambling and betting services including similar online services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Recreational, cultural and sporting services".
What is the GST rate applicable on SAC Code 999692?
The GST rate for SAC Code 999692 is 28%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 999692?
This service code includes:on-line gambling serviceson-line games involving betting/gambling.off-track betting,casino and gambling house servicesgambling slotmachine servicesother similar services
Is SAC Code 999692 the same as HSN Code 999692?
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 999692 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Recreational, cultural and sporting services", and the last two digits specify the detailed nature of the service "Gambling and betting services including similar online services".
Where can I verify the latest GST rate for SAC Code 999692?
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.