|Section Number||Service||Heading Number||Group Number||SAC Code||Service Detail||Service Description||GST||EffectiveDate||Section 7||Financial and related services; real estate services; and rental and leasing services||9971||99717||997172||Services of holding financial assets||Services of holding securities and other assets of trusts and funds and similar financial entities||18||28-06-2017|
SAC Code 997172 is used for the Services of holding financial assets under Services Accounting Codes (SAC Codes) for Goods and Service Tax classification. This service comes under Services of holding securities and other assets of trusts and funds and similar financial entities , 7 - Financial and related services; real estate services; and rental and leasing services . Heading number of this service is 9971 and the group number is 99717 . These codes are mandatory mapping or classification of services that need to be used by a taxpayer.
SAC (Services Accounting Code) are used for the identification of the service.SAC indicates specific code tends to reduce the possibility of misinterpretation. SAC in respect of the supply of services while HSN code in respect of the supply of goods. There will be no need for entering the description of the goods or services while filing GST returns online.