What do we mean by Service Accounting Codes (SAC)

1 Answer

0 votes
answered Jun 23, 2017 by admin (460 points)

The Service Accounting Codes (SAC) have not been declared in the Model GST Law but they are going to be same which are being used in Service Tax. Similar to the International HSN Codes, India has adopted a Service Accounting Code (SAC) for all its services. GST will subsume the service tax, which covers all kinds of services at a national rate of 15%, apart from other rates in some cases. Since GST is a combination of goods and services both, an equable classification for services is also required. SAC will remain the same under the GST regime.

Here is a list of SACs announced by Government.

commented Jun 23, 2017 by admin (460 points)
For more information about GST or Goods and Services Tax Registration number, please visit https://www.bankcircle.in/blog/tag/gst

Related questions

+1 vote
2 answers 363 views
+1 vote
1 answer 126 views
asked Jun 22, 2017 in GST by anonymous
+1 vote
0 answers 59 views
asked Apr 14, 2017 in CIBIL Queries by anonymous
0 votes
0 answers 25 views
asked Oct 11, 2018 in GST by Dinesh (120 points)

12 questions

7 answers


945 users

Welcome to Bankcircle Q&A, where you can ask questions and receive answers from other members of the community.

DMCA.com Protection Status