|Section Number||Service||Heading Number||Group Number||SAC Code||Service Detail||Service Description|
|Section 7||Financial And Related Services, Real Estate Services, Rental And Leasing Services||9972||99722||997221||Real Estate Services On A Fee/commission Basis Or Contract Basis||Property Management Services On A Fee/commission Basis Or Contract Basis|
Code 997221 is used for the Property Management Services On A Fee/commission Basis Or Contract Basis under Services Accounting Codes (SAC Codes) for Goods and Service Tax classification. This service comes under Real Estate Services On A Fee/commission Basis Or Contract Basis, Section 7 - Financial And Related Services, Real Estate Services, Rental And Leasing Services. Heading number of this service is 9972 and the group number is 99722. These codes are mandatory mapping or classification of services that need to be used by a taxpayer.
When services are recognised via their specific SAC Codes, which are globally acceptable. The identification of services becomes easy, and resultantly possibilities of misinterpretation tend to reduce. While filing GST returns online, HSN code in respect of the supply of goods and SAC Code in respect of the supply of services will have to be uploaded, and there will be no need for entering the description of the goods or services while filing GST returns.