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SAC CODE - 998516 : Temporary staffing-to-permanent placement services

GST RATE ON SAC CODE - 998516 IS 18%


SAC CODE Description
9985Support services
99851Employment services including personnel search/referral service & labour supply service
998516Temporary staffing-to-permanent placement services

Services Accounting Codes (SAC Codes) 998516 is used for the Temporary staffing-to-permanent placement 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) 998516 - 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 16 represent the detailed nature of service, Temporary staffing-to-permanent placement services in this case.

Explanation Of SAC CODE - 998516

This service code includes supplying of personnel for temporary employment with the expectation of permanent work at the end of a trial period with the client
Note: The employee remains on the payroll of the temporary help staffing firm until the hiring decision is made at which time he or she becomes an employee of the client or, if not, returns to the temporary help staffing firm. This service may include training, counselling, assessment, and resume upgrading.

FAQs on SAC Code 998516

What is SAC Code 998516?

SAC Code 998516 refers to "Temporary staffing-to-permanent placement 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 998516?

The GST rate for SAC Code 998516 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 998516?

This service code includes supplying of personnel for temporary employment with the expectation of permanent work at the end of a trial period with the clientNote: The employee remains on the payroll of the temporary help staffing firm unti…

Is SAC Code 998516 the same as HSN Code 998516?

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 998516 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 "Temporary staffing-to-permanent placement services".

Where can I verify the latest GST rate for SAC Code 998516?

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.