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SAC CODE - 996743 : Parking lot services

GST RATE ON SAC CODE - 996743 IS 18%


SAC CODE Description
9967Supporting services in transport
99674Supporting services for road transport
996743Parking lot services

Services Accounting Codes (SAC Codes) 996743 is used for the Parking lot 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) 996743 - 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 43 represent the detailed nature of service, Parking lot services in this case.

Explanation Of SAC CODE - 996743

This service code includes provision of parking spaces for motor vehicles, motorcycles and bicycles provided in roofed or unroofed car parks, parking lots and parking garages, whether or not roofed; collection of fees for parking on streets, roads and public places. 

This service code does not include: 
  1. rental of vehicle parking spaces in lock-up garages or garage premises, by the month or year :- 997212

FAQs on SAC Code 996743

What is SAC Code 996743?

SAC Code 996743 refers to "Parking lot 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 996743?

The GST rate for SAC Code 996743 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 996743?

This service code includes provision of parking spaces for motor vehicles, motorcycles and bicycles provided in roofed or unroofed car parks, parking lots and parking garages, whether or not roofed; collection of fees for parking on streets…

Is SAC Code 996743 the same as HSN Code 996743?

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 996743 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 "Parking lot services".

Where can I verify the latest GST rate for SAC Code 996743?

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.