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SAC CODE - 997153 : Portfolio management services except pension funds

GST RATE ON SAC CODE - 997153 IS 18%


SAC CODE Description
9971Financial and related services
99715Services auxiliary to financial services (other than to insurance and pensions)
997153Portfolio management services except pension funds

Services Accounting Codes (SAC Codes) 997153 is used for the Portfolio management services except pension funds 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) 997153 - 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 53 represent the detailed nature of service, Portfolio management services except pension funds in this case.

Explanation Of SAC CODE - 997153

This service code includes:
  1.  managing portfolio assets of others, on a fee or commission basis, except for pension funds
Note: Managers make decisions on which investments to purchase or sell. Examples of the portfolios managed are the portfolios of mutual and other investment funds or trusts

This service code does not include:
  1. management of pension funds :- 997164
  2. personal financial planning advisory services not involving decision-making on behalf of clients :- 997159
  3. buying and selling of securities on a transaction fee basis :- 997152

FAQs on SAC Code 997153

What is SAC Code 997153?

SAC Code 997153 refers to "Portfolio management services except pension funds" 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 997153?

The GST rate for SAC Code 997153 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 997153?

This service code includes: managing portfolio assets of others, on a fee or commission basis, except for pension fundsNote: Managers make decisions on which investments to purchase or sell. Examples of the portfolios managed are the p…

Is SAC Code 997153 the same as HSN Code 997153?

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 997153 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 "Portfolio management services except pension funds".

Where can I verify the latest GST rate for SAC Code 997153?

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.