SAC Codes for Services

Section NumberService Heading Number Group Number SAC Code Service Detail Service Description
Section 7Financial And Related Services, Real Estate Services, Rental And Leasing Services997399733997336Licensing Services For The Right To Use Intellectual Property And Similar ProductsLicensing Services For The Right To Use Trademarks And Franchises

Code 997336 is used for the Licensing Services For The Right To Use Trademarks And Franchises under Services Accounting Codes (SAC Codes) for Goods and Service Tax classification. This service comes under Licensing Services For The Right To Use Intellectual Property And Similar Products, Section 7 - Financial And Related Services, Real Estate Services, Rental And Leasing Services. Heading number of this service is 9973 and the group number is 99733. 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.

 

1970-01-01