A list of sample tax accounting codes under GST is proposed in the table below:- Serial Number, Type of Tax Liability and Sample Accounting Code serially given below 1 CGST – Tax 00010001 2 CGST – Interest 00010002 3 CGST – Penalty 00010003 4 CGST – Fees 00010004 5 CGST – Other 0001...
Service Accounting Code, also known as SAC, is the code issued by the Central Board of Indirect Tax & Customs (Service Tax Department) to classify and identify the services offered. Each Service provided has a unique SAC code precisely like a unique HSN for different categories of products. P...
HSN: Go to Tax > Setup > Sales tax > HSN code. SAC: Go to Tax > Setup > Sales tax > Service accounting codes. You can assign HSN and SAC codes to products in the GST field group of the Released products page. Products of the Item item type should have an HSN code, and products...
Find your product's HSN Code and GST Rate using our HSN Code Finder with which you can search by product name or code, and you can also use the category list to identify your HS Code.
The following is a list of a few of the GST service accounting codes. You can find the current GST Rate for service in Chapter 99 of the SAC Codes & GST Rates for Services.SAC CodeSAC Description 99 All Services 9954 Construction services 995411 Construction services of single dwelling or ...
All the states in the country have their own tax system for classifying the goods tax rate. But with GST regime there will be an uniformity all over the state which will harmonize the system of HSN for the goods and the service accounting code or SAC system for the services. ...
Update the state code and union territory. Create a Goods and Services Tax Identification Number (GSTIN) master. Define GSTINs for the legal entity, warehouse, vendor, or customer masters. Define Harmonized System of Nomenclature (HSN) codes and Service Accounting Codes (SACs). ...
Learn about how to set up Goods and Services Tax (GST) and Sales and Service Tax (SST) for a Malaysian company, including an overview on enabling features.
Services Accounting Code also called as SAC Code is a classification system for services developed by the Service Tax Department of India. Using GST SAC code, theGST ratesfor services are fixed in five slabs namely 0%, 5%, 12%, 18% and 28%. ...
GST tax accounting code for CGST,SGST,IGST and Additional Tax Details of Challan for GST Tax payment CGA suggestions under GST Tax system in India Accounting system under GST Tax payments How many major heads of accounts in GST Tax Recommended instructions to bank for collecting GST Tax ...