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SAC CODE - 998860 : Basic metal manufacturing services
GST RATE ON SAC CODE - 998860 IS 18%
| SAC CODE | Description |
|---|---|
| 9988 | Manufacturing services on physical inputs (goods) owned by others |
| 99886 | Basic metal manufacturing services |
| 998860 | Basic metal manufacturing services |
Services Accounting Codes (SAC Codes) 998860 is used for the Basic metal manufacturing services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Manufacturing services on physical inputs (goods) owned by others.
How Services Accounting Codes (SAC Codes) 998860 - 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 88 represent the major nature of service, Manufacturing services on physical inputs (goods) owned by others in this case.
The next two digits 60 represent the detailed nature of service, Basic metal manufacturing services in this case.
Explanation Of SAC CODE - 998860
FAQs on SAC Code 998860
What is SAC Code 998860?
SAC Code 998860 refers to "Basic metal manufacturing services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Manufacturing services on physical inputs (goods) owned by others".
What is the GST rate applicable on SAC Code 998860?
The GST rate for SAC Code 998860 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 998860?
SAC Code 998860 generally covers services related to "Basic metal manufacturing services" under the category "Manufacturing services on physical inputs (goods) owned by others" as defined in GST service classification.
Is SAC Code 998860 the same as HSN Code 998860?
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 998860 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Manufacturing services on physical inputs (goods) owned by others", and the last two digits specify the detailed nature of the service "Basic metal manufacturing services".
Where can I verify the latest GST rate for SAC Code 998860?
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.