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SAC CODE - 996521 : Coastal and transoceanic (overseas) water transport services of goods by refrigerator vessels, tankers, bulk cargo vessels, container ships etc
GST RATE ON SAC CODE - 996521 IS 18%
Services Accounting Codes (SAC Codes) 996521 is used for the Coastal and transoceanic (overseas) water transport services of goods by refrigerator vessels, tankers, bulk cargo vessels, container ships etc under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Goods Transport Services.
How Services Accounting Codes (SAC Codes) 996521 - 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 65 represent the major nature of service, Goods Transport Services in this case.
The next two digits 21 represent the detailed nature of service, Coastal and transoceanic (overseas) water transport services of goods by refrigerator vessels, tankers, bulk cargo vessels, container ships etc in this case.
Explanation Of SAC CODE - 996521
- coastal and transoceanic water transportation of frozen or refrigerated goods in specially refrigerated compartments;
- coastal and transoceanic water transportation of crude oil in special tankers;
- coastal and transoceanic water transportation of other bulk liquids or gases such as natural gas, methane and refined petroleum products in special tankers;
- coastal and transoceanic water transportation of crude oil in special tankers;
- coastal and transoceanic water transportation of other bulk liquids or gases such as natural gas, methane and refined petroleum products in special tankers;
- coastal and transoceanic water transportation of individual articles and packages assembled and shipped in specially constructed shipping containers designed for ease of handling in transport;
- coastal and transoceanic water transportation of letters and parcels on behalf of postal and courier services; coastal and transoceanic water transportation of dry bulk goods such as cereals, flours, cement, sand, coal, etc.;
- towing and pushing services on the high seas and on coastal waters;
- towing services for oil rigs, floating cranes, dredging vessels and buoys, as well as ships' hulls and incomplete vessels, on coastal waters or the open sea;
- coastal and transoceanic water transportation of freight not elsewhere classified.
FAQs on SAC Code 996521
What is SAC Code 996521?
SAC Code 996521 refers to "Coastal and transoceanic (overseas) water transport services of goods by refrigerator vessels, tankers, bulk cargo vessels, container ships etc" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Goods Transport Services".
What is the GST rate applicable on SAC Code 996521?
The GST rate for SAC Code 996521 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 996521?
This service code includes coastal and transoceanic water transportation of frozen or refrigerated goods in specially refrigerated compartments; coastal and transoceanic water transportation of crude oil in special tankers; c…
Is SAC Code 996521 the same as HSN Code 996521?
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 996521 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Goods Transport Services", and the last two digits specify the detailed nature of the service "Coastal and transoceanic (overseas) water transport services of goods by refrigerator vessels, tankers, bulk cargo vessels, container ships etc".
Where can I verify the latest GST rate for SAC Code 996521?
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.