Boost Your B2B Sales with Getatoz
Get Listed FreeExplore SAC Code of thousands of services.
SAC CODE - 997149 : Other non-life reinsurance services
GST RATE ON SAC CODE - 997149 IS 18%
| SAC CODE | Description |
|---|---|
| 9971 | Financial and related services |
| 99714 | Reinsurance services |
| 997149 | Other non-life reinsurance services |
Services Accounting Codes (SAC Codes) 997149 is used for the Other non-life reinsurance services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Financial and related services.
How Services Accounting Codes (SAC Codes) 997149 - 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 71 represent the major nature of service, Financial and related services in this case.
The next two digits 49 represent the detailed nature of service, Other non-life reinsurance services in this case.
Explanation Of SAC CODE - 997149
- liability reinsurance services
- reinsurance services for surety bonds
- non-life reinsurance services, not elsewhere specified
FAQs on SAC Code 997149
What is SAC Code 997149?
SAC Code 997149 refers to "Other non-life reinsurance services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Financial and related services".
What is the GST rate applicable on SAC Code 997149?
The GST rate for SAC Code 997149 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 997149?
This service code includes:liability reinsurance servicesreinsurance services for surety bondsnon-life reinsurance services, not elsewhere specified
Is SAC Code 997149 the same as HSN Code 997149?
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 997149 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Financial and related services", and the last two digits specify the detailed nature of the service "Other non-life reinsurance services".
Where can I verify the latest GST rate for SAC Code 997149?
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.