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SAC CODE - 997329 : Leasing or rental services concerning other goods
GST RATE ON SAC CODE - 997329 IS 18%
| SAC CODE | Description |
|---|---|
| 9973 | Leasing or rental services with or without operator |
| 99732 | Leasing or rental services concerning other goods |
| 997329 | Leasing or rental services concerning other goods |
Services Accounting Codes (SAC Codes) 997329 is used for the Leasing or rental services concerning other goods 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) 997329 - 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 29 represent the detailed nature of service, Leasing or rental services concerning other goods in this case.
Explanation Of SAC CODE - 997329
- leasing or rental services concerning books, journals and magazines, cameras, photo equipment, binoculars and other optical goods, flowers and plants, watches and clocks, etc., musical instruments
- leasing, renting or hiring services concerning medical equipment (crutches) and paramedical equipment
- renting of equipment for parties and other social events, such as weddings
FAQs on SAC Code 997329
What is SAC Code 997329?
SAC Code 997329 refers to "Leasing or rental services concerning other goods" 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 997329?
The GST rate for SAC Code 997329 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 997329?
This service code includes:leasing or rental services concerning books, journals and magazines, cameras, photo equipment, binoculars and other optical goods, flowers and plants, watches and clocks, etc., musical instrumentsleasing, renting …
Is SAC Code 997329 the same as HSN Code 997329?
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 997329 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 other goods".
Where can I verify the latest GST rate for SAC Code 997329?
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.