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SAC CODE - 998931 : Iron and steel casting services
GST RATE ON SAC CODE - 998931 IS 18%
Services Accounting Codes (SAC Codes) 998931 is used for the Iron and steel casting services under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Other manufacturing services; publishing, printing and reproduction services; materials recovery services.
How Services Accounting Codes (SAC Codes) 998931 - 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 89 represent the major nature of service, Other manufacturing services; publishing, printing and reproduction services; materials recovery services in this case.
The next two digits 31 represent the detailed nature of service, Iron and steel casting services in this case.
Explanation Of SAC CODE - 998931
FAQs on SAC Code 998931
What is SAC Code 998931?
SAC Code 998931 refers to "Iron and steel casting services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Other manufacturing services; publishing, printing and reproduction services; materials recovery services".
What is the GST rate applicable on SAC Code 998931?
The GST rate for SAC Code 998931 is 18%. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 998931?
This service code includes iron and steel casting services such as of malleable cast iron, spheroidal cast iron, grey cast iron and steelNote: The resulting intermediate iron and steel casting products are typically not identifiable in the …
Is SAC Code 998931 the same as HSN Code 998931?
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 998931 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Other manufacturing services; publishing, printing and reproduction services; materials recovery services", and the last two digits specify the detailed nature of the service "Iron and steel casting services".
Where can I verify the latest GST rate for SAC Code 998931?
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.