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SAC CODE - 998591 : Credit reporting & rating services
GST RATE ON SAC CODE - 998591 IS 18%
| SAC CODE | Description |
|---|---|
| 9985 | Support services |
| 99859 | Other support services |
| 998591 | Credit reporting & rating services |
Services Accounting Codes (SAC Codes) 998591 is used for the Credit reporting & rating 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) 998591 - 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 91 represent the detailed nature of service, Credit reporting & rating services in this case.
Explanation Of SAC CODE - 998591
FAQs on SAC Code 998591
What is SAC Code 998591?
SAC Code 998591 refers to "Credit reporting & rating 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 998591?
The GST rate for SAC Code 998591 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 998591?
This service code includes services consisting of the reporting of credit ratings of persons and businesses; evaluation of the financial status and credit experience of prospective customers, of loan applicants, etc; credit investigation se…
Is SAC Code 998591 the same as HSN Code 998591?
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 998591 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 "Credit reporting & rating services".
Where can I verify the latest GST rate for SAC Code 998591?
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.