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SAC CODE - 998215 : Arbitration and conciliation services

GST RATE ON SAC CODE - 998215 IS 18%


SAC CODE Description
9982Legal and accounting services
99821Legal services
998215Arbitration and conciliation services

Services Accounting Codes (SAC Codes) 998215 is used for the Arbitration and conciliation services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Legal and accounting services.

How Services Accounting Codes (SAC Codes) 998215 - 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 82 represent the major nature of service, Legal and accounting services in this case.

The next two digits 15 represent the detailed nature of service, Arbitration and conciliation services in this case.

Explanation Of SAC CODE - 998215

This service code includes arbitration or mediation services aimed at the settlement of disputes between labour and management, between businesses or between individuals

This service code does not include:
  1.  representation services on behalf of one of the parties in the dispute :- 998212

FAQs on SAC Code 998215

What is SAC Code 998215?

SAC Code 998215 refers to "Arbitration and conciliation services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Legal and accounting services".

What is the GST rate applicable on SAC Code 998215?

The GST rate for SAC Code 998215 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 998215?

This service code includes arbitration or mediation services aimed at the settlement of disputes between labour and management, between businesses or between individualsThis service code does not include: representation services on beh…

Is SAC Code 998215 the same as HSN Code 998215?

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 998215 derived?

SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Legal and accounting services", and the last two digits specify the detailed nature of the service "Arbitration and conciliation services".

Where can I verify the latest GST rate for SAC Code 998215?

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.