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SAC CODE - 99824 : Insolvency and receivership services
| SAC CODE | Description |
|---|---|
| 9982 | Legal and accounting services |
| 99824 | Insolvency and receivership services |
| 998240 | Insolvency and receivership services |
Services Accounting Codes (SAC Codes) 99824 is used for the Insolvency and receivership 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.
Explanation Of SAC CODE - 99824
FAQs on SAC Code 99824
What is SAC Code 99824?
SAC Code 99824 refers to "Insolvency and receivership 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 99824?
The GST rate for SAC Code 99824 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 99824?
SAC Code 99824 generally covers services related to "Insolvency and receivership services" under the category "Legal and accounting services" as defined in GST service classification.
Is SAC Code 99824 the same as HSN Code 99824?
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 99824 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 "Insolvency and receivership services".
Where can I verify the latest GST rate for SAC Code 99824?
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.