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 Services997199716997161Services Auxillary To Insurance And PensionsInsurance Brokerage And Agency Services

The Insurance Brokerage And Agency Services are categorized by the Code 997161 under Services Accounting Codes (SAC Codes) for Goods and Service Tax classification. This service comes under Services Auxillary To Insurance And Pensions, Section 7 - Financial And Related Services, Real Estate Services, Rental And Leasing Services. Heading number of this service is 9971 and the group number is 99716. These codes are mandatory mapping/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