7 months, 3 weeks ago mycaguruKeymaster
SAC Code List, Download SAC Code for GST in Excel, PDF Format. SAC Code means Services Accounting Code. SAC code is used to classify services unlike goods which follows HSN code. For each type of service provided, there is an unified code for recognition, measurement and taxation. However, in the current service tax regime, SAC codes are already defined for each type of service provided.
SAC’s are provided by the Service Tax Department and is expected to be continued for GST. Accounting Codes for services – in invoice level details
- Mandatory for those services for which Place of Supply Rules are dependent on nature of services
- Mandatory for exports & imports.
Service Accounting Code to be prefixed with ‘s’ for differentiating from HSN Code.
Service Accounting Codes (SAC)
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.
Classification of Services has been divided into 5 Sections
- Section 5 : Construction Services
- Section 6 : Distributive Trade Services ; Accomodation, Food Beverage Service; Transport Services; Gas & Electricity Distribution Services
- Section 7: Financial and related services; real estate services; and rental and leasing services
- Section 8 : Business and Production Services
- Section 9 : Community, Social & Personal Services and other miscellaneous services
Download SAC Code List In Excel Format