SAC Service Description SAC Code GST Rate Chapter: Goods Transport Services Land transport services of Goods Road transport services of Goods including letters, parcels, live animals, household & office furniture, containers etc. by refrigerator vehicles, trucks, trailers, man or animal drawn vehicles...
while services are categorised using the SAC Code. GST rates have been set in five classes called slabs which are predicated on the HSN or SAC codes. These five slabs are: NIL, 5%, 12%, 18%, and 28%
All goods and services exchanged in India are categorised as part of the SAC code system or the HSN code system under GST. Goods are categorised using the HSN Code, while services are categorised using the SAC Code. GST rates have been set in five classes called slabs which are predicated...
Goods & Services Tax is a comprehensive, multi-stage, destination-based tax that will be levied on every value addition. GST HSN/SAC code is must have apps for…
HSN Code and SAC under GST: A Move towards Standardization Penalties, Confiscation, Detention & Seizure on Non-generation of E-way Bill GSTR 1 Blocking if GSTR 3B Not Filed Timely Supply in GST –10 Facts You Need to Know Now, let us look at GST due dates for February 2023. Here is...
5. Is it mandatory to use the HSN code for every business transaction? Yes, it is mandatory to use the HSN code for all goods and the SAC code for all services in every business transaction under the GST regime. The requirement varies based on the turnover of the business. 6. How ...
GST Codes: What are the SAC and HSN Code List? Read More→ GST Rates – Services Read More→ GST Rates – Goods Read More→ GST Rates in India 2025: List of Goods and Services Tax Rates, Slabs, & Revisions Read More→ GST Rate on Labour Charges ...
HSN Code and SAC under GST: A Move towards Standardization Penalties, Confiscation, Detention & Seizure on Non-generation of E-way Bill GSTR 1 Blocking if GSTR 3B Not Filed Timely Supply in GST –10 Facts You Need to Know Now, let us look at GST due dates for February 2023. Here is...
Harmonized System of Nomenclature (HSN)– Under the India GST regime, a HSN code is used to classify different goods in a transaction under GST. In addition, a HSN code determines the tax rates to apply to goods. Services Accounting Codes (SAC)– SAC is based on HSN, which is internation...
(g) Harmonised System of Nomenclature code for goods or services;(Applicable-HSN/ SAC Code) (h) description of goods or services; (i) quantity in case of goods and unit or Unique Quantity Code thereof; (j) total value of supply of goods or services or both; ...