What is the Role of SAC Code under Goods and Services Tax?
In India
under GST, all the goods and services are transacted. Goods are classified
under HSN code and services are classified under the SAC Code.
SAC Code is
also called as Services Accounting Code that is a classification system for
services developed by the Service Tax Department of India. All the services
under SAC Code are fixed
into 5 slabs known as 0%, 5%, 12%, 18%, and 28%. These codes are issued by CBSE
to categorize every service under GST. Every service has a unique SAC code and
used in invoices created by you for the services you delivered.
Check
out the SAC Code List Under GST Below
The below
mentioned table reveals SAC code in GST
tax slabs, here are listed some of the main services. For a complete list, you
can check out online web portals.
|
SAC Code |
Description of Services |
Rate (%) |
Effective From |
|
9954 |
Services offered by labor contracts of construction,
maintenance, fitting out, completion, renovation, etc. |
0% |
28/6/2017 |
|
9954 |
Services offered by labor contracts of installation of
original works, construction erection, and commissioning. |
0% |
28/6/2017 |
|
9954 |
Other construction services |
18% |
28/6/2017 |
|
9954 |
Composite supply of works contract as defined in clause
119 of section 2 of CGST Act, 2017. |
18% |
28/6/2017 |
|
9954 |
Affordable housing by the union or state territory of
urban development authority under the housing for all mission/ Pradhan mantra
Aawas Yojana |
12% |
25/01/2018 |
|
9954 |
A building used for carrying out activities including centralized
cooking or distribution for mid-day meals under the mid-day meal scheme |
12% |
25/01/2018 |
|
9954 |
Services like housekeeping, carpentering, plumbing,
etc. |
5% |
25/01/2018 |
|
995433 |
Earthmoving and excavating services |
18% |
28/6/2017 |
|
9996 |
Services offered by a race club by way of totalizator
or a license to the bookmaker in such club |
28% |
28/6/2017 |
Above
mentioned SAC Codes are also called as SAC Numbers and you should have
to know the right number of your service to easily classify that service under goods
and services tax.
What is
the Difference between SAC Code and HSN Code?
HSN Code means
the Harmonized System of Nomenclature Code used for categorizing the products
under GST. On the other side, SAC Code means Services Accounting Code under which services fall under GST are
classified. Both codes are important and used to categorize products and services
under the GST regime in India.
SAC
Code and GST Rates Finder
Are you looking for GST Rates and SAC Code Finder? Then, you have to consult online market research
experts that provide this tool to find out accurate SAC code of your service as
well as the GST rates of your
product.
Comments