Boost Your B2B Sales with Getatoz
Get Listed FreeExplore SAC Code of thousands of services.
SAC CODE - 998114 : Research and experimental development services in agricultural sciences.
GST RATE ON SAC CODE - 998114 IS 18%
Services Accounting Codes (SAC Codes) 998114 is used for the Research and experimental development services in agricultural sciences. under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Research and development services.
How Services Accounting Codes (SAC Codes) 998114 - 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 81 represent the major nature of service, Research and development services in this case.
The next two digits 14 represent the detailed nature of service, Research and experimental development services in agricultural sciences. in this case.
Explanation Of SAC CODE - 998114
FAQs on SAC Code 998114
What is SAC Code 998114?
SAC Code 998114 refers to "Research and experimental development services in agricultural sciences." under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Research and development services".
What is the GST rate applicable on SAC Code 998114?
The GST rate for SAC Code 998114 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 998114?
This service code includes basic and applied research services and experimental development services related to agricultural techniques, fruit culture, forestry, stock breeding, fisheries, etc.
Is SAC Code 998114 the same as HSN Code 998114?
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 998114 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Research and development services", and the last two digits specify the detailed nature of the service "Research and experimental development services in agricultural sciences.".
Where can I verify the latest GST rate for SAC Code 998114?
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.