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SAC CODE - 996722 : Bulk liquid or gas storage services
GST RATE ON SAC CODE - 996722 IS 18%
| SAC CODE | Description |
|---|---|
| 9967 | Supporting services in transport |
| 99672 | Storage and warehousing services |
| 996722 | Bulk liquid or gas storage services |
Services Accounting Codes (SAC Codes) 996722 is used for the Bulk liquid or gas storage services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Supporting services in transport.
How Services Accounting Codes (SAC Codes) 996722 - 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 67 represent the major nature of service, Supporting services in transport in this case.
The next two digits 22 represent the detailed nature of service, Bulk liquid or gas storage services in this case.
Explanation Of SAC CODE - 996722
FAQs on SAC Code 996722
What is SAC Code 996722?
SAC Code 996722 refers to "Bulk liquid or gas storage services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Supporting services in transport".
What is the GST rate applicable on SAC Code 996722?
The GST rate for SAC Code 996722 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 996722?
This service code includes bulk storage and warehousing services for liquids and gases, including oil and oil products, wine and the like.
Is SAC Code 996722 the same as HSN Code 996722?
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 996722 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Supporting services in transport", and the last two digits specify the detailed nature of the service "Bulk liquid or gas storage services".
Where can I verify the latest GST rate for SAC Code 996722?
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.