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SAC CODE - 999242 : Higher education services, technical
GST RATE ON SAC CODE - 999242 IS NIL
| SAC CODE | Description |
|---|---|
| 9992 | Education services |
| 99924 | Higher education services |
| 999242 | Higher education services, technical |
Services Accounting Codes (SAC Codes) 999242 is used for the Higher education services, technical under Goods and Service Tax classification. SAC (Services Accounting Code) are used for the identification of the service. This service comes under heading Education services.
How Services Accounting Codes (SAC Codes) 999242 - 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 92 represent the major nature of service, Education services in this case.
The next two digits 42 represent the detailed nature of service, Higher education services, technical in this case.
Explanation Of SAC CODE - 999242
FAQs on SAC Code 999242
What is SAC Code 999242?
SAC Code 999242 refers to "Higher education services, technical" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Education services".
What is the GST rate applicable on SAC Code 999242?
The GST rate for SAC Code 999242 is NIL. GST rates are subject to change based on government notifications.
Which services are covered under SAC Code 999242?
This service code includes higher education services, above higher secondary level, in technical fields such as engineering, medical, bio-technology etc.
Is SAC Code 999242 the same as HSN Code 999242?
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 999242 derived?
SAC codes follow a structured format: the first two digits (99) indicate services, the next two digits represent the major service category "Education services", and the last two digits specify the detailed nature of the service "Higher education services, technical".
Where can I verify the latest GST rate for SAC Code 999242?
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.