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SAC CODE - 998517 : Co-employment staffing services

GST RATE ON SAC CODE - 998517 IS 18%


SAC CODE Description
9985Support services
99851Employment services including personnel search/referral service & labour supply service
998517Co-employment staffing services

Services Accounting Codes (SAC Codes) 998517 is used for the Co-employment staffing 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) 998517 - 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 17 represent the detailed nature of service, Co-employment staffing services in this case.

Explanation Of SAC CODE - 998517

This service code includes supplying of personnel through a staffing arrangement in which an organization, i.e. a Professional Employer Organization (PEO), co-employs a client's workforce.

Note: The PEO and the client enter into a contractual agreement whereby the rights and responsibilities in respect of co-employees are shared or allocated, with the service provider assuming responsibility for certain activities as agreed with the client. These range from basic to full- service packages.

FAQs on SAC Code 998517

What is SAC Code 998517?

SAC Code 998517 refers to "Co-employment staffing 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 998517?

The GST rate for SAC Code 998517 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 998517?

This service code includes supplying of personnel through a staffing arrangement in which an organization, i.e. a Professional Employer Organization (PEO), co-employs a client's workforce.Note: The PEO and the client enter into a contractua…

Is SAC Code 998517 the same as HSN Code 998517?

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 998517 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 "Co-employment staffing services".

Where can I verify the latest GST rate for SAC Code 998517?

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.