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SAC CODE - 997156 : Financial consultancy services
GST RATE ON SAC CODE - 997156 IS 18%
| SAC CODE | Description |
|---|---|
| 9971 | Financial and related services |
| 99715 | Services auxiliary to financial services (other than to insurance and pensions) |
| 997156 | Financial consultancy services |
Services Accounting Codes (SAC Codes) 997156 is used for the Financial consultancy 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) 997156 - 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 56 represent the detailed nature of service, Financial consultancy services in this case.
Explanation Of SAC CODE - 997156
- insurance and pension consultancy services :- 997169
- mergers and acquisitions services :- 997151
- corporate finance and venture capital services :- 997151
- portfolio management services (except pension funds) :- 997153
- trust and custody services :- 997154
- pension fund management services :- 997164
- advisory services on taxation matters :- 99823
- financial management consulting services (except business tax) :- 998311
FAQs on SAC Code 997156
What is SAC Code 997156?
SAC Code 997156 refers to "Financial consultancy 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 997156?
The GST rate for SAC Code 997156 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 997156?
This service code includes financial advisory services, market analysis and intelligenceThis service code does not include:insurance and pension consultancy services :- 997169mergers and acquisitions services :- 997151corporate finance and …
Is SAC Code 997156 the same as HSN Code 997156?
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 997156 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 "Financial consultancy services".
Where can I verify the latest GST rate for SAC Code 997156?
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.