Boost Your B2B Sales with Getatoz
Get Listed FreeExplore SAC Code of thousands of services.
SAC CODE - 998621 : Support services to oil and gas extraction
GST RATE ON SAC CODE - 998621 IS 18%
| SAC CODE | Description |
|---|---|
| 9986 | Support services to agriculture, hunting, forestry, fishing, mining and utilities. |
| 99862 | Support services to mining |
| 998621 | Support services to oil and gas extraction |
Services Accounting Codes (SAC Codes) 998621 is used for the Support services to oil and gas extraction 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..
How Services Accounting Codes (SAC Codes) 998621 - 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 86 represent the major nature of service, Support services to agriculture, hunting, forestry, fishing, mining and utilities. in this case.
The next two digits 21 represent the detailed nature of service, Support services to oil and gas extraction in this case.
Explanation Of SAC CODE - 998621
- geological, geophysical and related prospecting and consulting services :- 998341
FAQs on SAC Code 998621
What is SAC Code 998621?
SAC Code 998621 refers to "Support services to oil and gas extraction" 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 998621?
The GST rate for SAC Code 998621 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 998621?
This service code includes derrick erection, repair and dismantling services; well casing, cementing, pumping, plugging and abandoning of wells; test drilling and exploration services in connection with petroleum and gas extraction; special…
Is SAC Code 998621 the same as HSN Code 998621?
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 998621 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 oil and gas extraction".
Where can I verify the latest GST rate for SAC Code 998621?
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.