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SAC CODE - 998121 : Research and experimental development services in social sciences.

GST RATE ON SAC CODE - 998121 IS 18%


SAC CODE Description
9981Research and development services
99812Research and experimental development services in social sciences and humanities.
998121Research and experimental development services in social sciences.

Services Accounting Codes (SAC Codes) 998121 is used for the Research and experimental development services in social 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) 998121 - 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 21 represent the detailed nature of service, Research and experimental development services in social sciences. in this case.

Explanation Of SAC CODE - 998121

This service code includes basic and applied research services and experimental development services in social sciences and humanities, experimental or theoretical work undertaken primarily to acquire new knowledge of the underlying foundations of phenomena and observable facts, without any particular application of use in view and experimental development services involving systematic work, drawing on knowledge gained from research and practical experience, that is directed to producing new materials, products, and devices; to installing new processes, systems and services; or to improving substantially those already produced or installed in areas like psychology, theories of economies, business management, finance, public law, civil law, political sciences, other social sciences etc.

This service code does not include:
  1. market research services :- 998370

FAQs on SAC Code 998121

What is SAC Code 998121?

SAC Code 998121 refers to "Research and experimental development services in social 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 998121?

The GST rate for SAC Code 998121 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 998121?

This service code includes basic and applied research services and experimental development services in social sciences and humanities, experimental or theoretical work undertaken primarily to acquire new knowledge of the underlying foundat…

Is SAC Code 998121 the same as HSN Code 998121?

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 998121 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 social sciences.".

Where can I verify the latest GST rate for SAC Code 998121?

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.