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SAC CODE - 99862 : Support services to mining


SAC CODE Description
9986Support services to agriculture, hunting, forestry, fishing, mining and utilities.
99862Support services to mining
998621Support services to oil and gas extraction
998622Support services to other mining n.e.c.

Services Accounting Codes (SAC Codes) 99862 is used for the Support services to mining 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 to agriculture, hunting, forestry, fishing, mining and utilities..

Explanation Of SAC CODE - 99862

This service code includes draining and pumping of mines; overburden removal and other development and preparation services of mineral properties and sites, including tunneling, except for oil and gas extraction; test drilling services in connection with mining operations, except for oil and gas extraction; operation of other mining units on a fee or contract basis

This service code does not include:
  1. mineral exploration and evaluation services :- 998343
  2. geophysical services :- 998341

FAQs on SAC Code 99862

What is SAC Code 99862?

SAC Code 99862 refers to "Support services to mining" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Support services to agriculture, hunting, forestry, fishing, mining and utilities.".

What is the GST rate applicable on SAC Code 99862?

The GST rate for SAC Code 99862 is 18%. GST rates are subject to change based on government notifications.

Which services are covered under SAC Code 99862?

This service code includes draining and pumping of mines; overburden removal and other development and preparation services of mineral properties and sites, including tunneling, except for oil and gas extraction; test drilling services in c…

Is SAC Code 99862 the same as HSN Code 99862?

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 99862 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 to agriculture, hunting, forestry, fishing, mining and utilities.", and the last two digits specify the detailed nature of the service "Support services to mining".

Where can I verify the latest GST rate for SAC Code 99862?

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.