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SAC CODE - 996111 : Services provided for a fee/commission or contract basis on wholesale trade
| SAC CODE | Description |
|---|---|
| 9961 | Services in wholesale trade |
| 99611 | Services in wholesale trade |
| 996111 | Services provided for a fee/commission or contract basis on wholesale trade |
Services Accounting Codes (SAC Codes) 996111 is used for the Services provided for a fee/commission or contract basis on wholesale trade under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Services in wholesale trade.
How Services Accounting Codes (SAC Codes) 996111 - 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 61 represent the major nature of service, Services in wholesale trade in this case.
The next two digits 11 represent the detailed nature of service, Services provided for a fee/commission or contract basis on wholesale trade in this case.
FAQs on SAC Code 996111
What is SAC Code 996111?
SAC Code 996111 refers to "Services provided for a fee/commission or contract basis on wholesale trade" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Services in wholesale trade".
What is the GST rate applicable on SAC Code 996111?
The GST rate for SAC Code 996111 is Applicable as per GST notifications. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 996111?
SAC Code 996111 generally covers services related to "Services provided for a fee/commission or contract basis on wholesale trade" under the category "Services in wholesale trade" as defined in GST service classification.
Is SAC Code 996111 the same as HSN Code 996111?
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 996111 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Services in wholesale trade", and the last two digits specify the detailed nature of the service "Services provided for a fee/commission or contract basis on wholesale trade".
Where can I verify the latest GST rate for SAC Code 996111?
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.