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SAC CODE - 997316 : Leasing or rental services concerning telecommunications equipment with or without operator
GST RATE ON SAC CODE - 997316 IS 18%
Services Accounting Codes (SAC Codes) 997316 is used for the Leasing or rental services concerning telecommunications equipment with or without operator under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Leasing or rental services with or without operator.
How Services Accounting Codes (SAC Codes) 997316 - 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 73 represent the major nature of service, Leasing or rental services with or without operator in this case.
The next two digits 16 represent the detailed nature of service, Leasing or rental services concerning telecommunications equipment with or without operator in this case.
Explanation Of SAC CODE - 997316
- leasing, rental or hiring services concerning computing machinery and equipment, such as electronic data processors, central processing units, peripheral units and magnetic or optical readers, with or without operator.
- financial leasing of computers :- 997114
FAQs on SAC Code 997316
What is SAC Code 997316?
SAC Code 997316 refers to "Leasing or rental services concerning telecommunications equipment with or without operator" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Leasing or rental services with or without operator".
What is the GST rate applicable on SAC Code 997316?
The GST rate for SAC Code 997316 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 997316?
This service code includes: leasing, rental or hiring services concerning computing machinery and equipment, such as electronic data processors, central processing units, peripheral units and magnetic or optical readers, with or withou…
Is SAC Code 997316 the same as HSN Code 997316?
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 997316 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Leasing or rental services with or without operator", and the last two digits specify the detailed nature of the service "Leasing or rental services concerning telecommunications equipment with or without operator".
Where can I verify the latest GST rate for SAC Code 997316?
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.