Quick Answer: What Is The SAC Code In GST?

What is SAC code for hotels?

GST RATE ON SAC CODE – 996311 IS 18%SAC CODEDescription9963Accommodation, Food and beverage services99631Accommodation services996311Room or unit accommodation services provided by Hotels, INN, Guest House, Club etc.

How many digits is a sac code?

six digitsServices are classified as per the Services Accounting Code (SAC). The SAC is strictly numeric and is six digits. The first two digits are same for all services i.e. 99, the next two digits represent the major nature of service and the last two digits represent the detailed nature of service.

What is the SAC code for Works Contract?

SAC Code 9954First two digits“99”Construction services of Civil engineering worksSAC Code 995421 -SAC Code 995422 -SAC Code 995423 -SAC Code 995424 -50 more rows•Nov 18, 2019

Is SAC code mandatory for Gstr 1?

Hi, – For entities having turnover less than Rs. 1.5 cr, HSN code is not mandatory on the invoice issued by them therefore it is not mandatory to fill cloumn 12 of GSTR-1. … Only SAC code of training programme has to be mentioned in invoice.

What is 2 digit HSN code?

2-digit HSN code for goods From the second year of GST operations, mentioning 2-digit chapter level HSN code will be mandatory for all taxpayers with turnover between Rs. 1.5 crore and Rs. 5 crore in the previous financial year.

How do I find my GST SAC code?

GST Portal – Steps to Search HSN/SAC Tax RatesGo to the GST portal homepage. Visit the GST Portal Homepage and login with valid credentials. … In the case of HSN Codes. … Select the tax-type. … Search HSN Chapter by Name or Code. … Search HSN Code. … Select the appropriate dates. … Click on the “Search” option. … Select the State.More items…•

What is India’s SAC code?

The SAC code means Services Accounting Code under which services fall under GST are classified. HSN code and SAC code are the codes used to classify goods and services under GST regime in India.

Can I add more than 5 HSN code in GST?

For including new goods and services in the GST registration, you need to type the relevant HSN codes inside the HSN codes field provided just below the Non-Core Fields. … You have to tap on it, and the relevant goods type will be added. Note:- This way you can include up to 5 goods only on your GST registration.

How do I find my HSN code?

In the 8 digit structure of an HSN Code, the first 2 digits define the Chapter, at 4 digit level are the headings, at 6 digit are the subheadings and finally at 8 digit are the tariff items.

Is SAC code mandatory for GST invoice?

SAC codes are important for the business, the service providers must use SAC code during GSTR filling. … The criteria of using the SAC code in the GSTR filling. SAC code is not mandatory if the companies turnover is less than Rs. 1.5 crores.

How do I find my HSN code GST?

For example, if you are selling fresh bananas, you can find your HSN code under Section 02: Vegetable Products, Chapter 08: Edible fruits and nuts; peel of citrus fruits or melons, Heading 03: Bananas including Plantains, Subheading 9010: Bananas, fresh. Your HSN code will be 0803.

What is HSN code list?

HSN code stands for “Harmonized System of Nomenclature”. This system has been introduced for the systematic classification of goods all over the world. HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide.

How do you read an 8 digit HSN code?

The first two digits represent the HS Chapter. The second two digits denotes the HS heading. The third two digits denotes the HS subheading. For deeper classification, Customs and Central Excise added two more digits to the 6 digits to make the code more precise, resulting in an eight-digit classification.

Why is a sac code needed?

In a nutshell, a common structure i.e. HSN / SAC code enables governments of countries to collaborate data of purchases and sales of commodities and analyze the same.

What is the SAC code?

SAC codes (Full form: Services Accounting Code) are codes issued by CBEC to uniformly classify each services under GST. Each service has a unique SAC. These SAC codes can be used in invoices created by you for the services you delivered.

How do I read an HSN code?

In the code itself, this plays out in the following manner:Each Chapter is named as a two-digit HSN number.Each two-digit HSN number is sub-classified into a four-digit HSN code.Later, such four-digit HSN codes are further sub-classified into the six-digit HSN code.