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SAC CODE - 998341 : Geological and geophysical consulting services

GST RATE ON SAC CODE - 998341 IS 18%


SAC CODE Description
9983Other professional, technical and business services
99834Scientific and other technical services
998341Geological and geophysical consulting services

Services Accounting Codes (SAC Codes) 998341 is used for the Geological and geophysical consulting services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Other professional, technical and business services.

How Services Accounting Codes (SAC Codes) 998341 - 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 83 represent the major nature of service, Other professional, technical and business services in this case.

The next two digits 41 represent the detailed nature of service, Geological and geophysical consulting services in this case.

Explanation Of SAC CODE - 998341

This service code includes provision of advice, guidance and operational assistance concerning the location of mineral deposits, oil and gas fields and groundwater by studying the properties of the earth and rock formations and structures; provision of advice with regard to exploration and development of mineral, oil and natural gas properties, including pre-feasibility and feasibility studies; project evaluation services; evaluation of geological, geophysical and geochemical anomalies; surface geological mapping or surveying; providing information on subsurface earth formations by different methods such as seismographic, gravimetric, magnetometric methods & other subsurface surveying methods

This service code does not include
  1. test drilling and boring work :- 995432

FAQs on SAC Code 998341

What is SAC Code 998341?

SAC Code 998341 refers to "Geological and geophysical consulting services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Other professional, technical and business services".

What is the GST rate applicable on SAC Code 998341?

The GST rate for SAC Code 998341 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 998341?

This service code includes provision of advice, guidance and operational assistance concerning the location of mineral deposits, oil and gas fields and groundwater by studying the properties of the earth and rock formations and structures; …

Is SAC Code 998341 the same as HSN Code 998341?

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 998341 derived?

SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Other professional, technical and business services", and the last two digits specify the detailed nature of the service "Geological and geophysical consulting services".

Where can I verify the latest GST rate for SAC Code 998341?

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.