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SAC CODE - 998511 : Executive/retained personnel search services
GST RATE ON SAC CODE - 998511 IS 18%
| SAC CODE | Description |
|---|---|
| 9985 | Support services |
| 99851 | Employment services including personnel search/referral service & labour supply service |
| 998511 | Executive/retained personnel search services |
Services Accounting Codes (SAC Codes) 998511 is used for the Executive/retained personnel search services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Support services.
How Services Accounting Codes (SAC Codes) 998511 - 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 85 represent the major nature of service, Support services in this case.
The next two digits 11 represent the detailed nature of service, Executive/retained personnel search services in this case.
Explanation Of SAC CODE - 998511
- provision of intermediation services between prospective employees and employers;
- specialized search and recruitment service limited to filling highly paid executive, senior manager, and professional positions, according to client specifications, including conducting detailed interviews with the client organization's management team, developing job profiles, conducting original research and advertising to locate potential job candidates, screening possible candidates, preparing, presenting, and discussing a confidential list of highly qualified applicants with the client, making interview arrangements, negotiating compensation, and providing post-hire follow- up
FAQs on SAC Code 998511
What is SAC Code 998511?
SAC Code 998511 refers to "Executive/retained personnel search services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Support services".
What is the GST rate applicable on SAC Code 998511?
The GST rate for SAC Code 998511 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 998511?
This service code includesprovision of intermediation services between prospective employees and employers;specialized search and recruitment service limited to filling highly paid executive, senior manager, and professional positions, acco…
Is SAC Code 998511 the same as HSN Code 998511?
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 998511 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Support services", and the last two digits specify the detailed nature of the service "Executive/retained personnel search services".
Where can I verify the latest GST rate for SAC Code 998511?
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.