|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||9973||99733||997335||Licensing services for the right to use intellectual property and similar products||Licensing services for the right to use R&D products||18||28-06-2017|
SAC Code 997335 is used for the Licensing services for the right to use intellectual property and similar products under Services Accounting Codes (SAC Codes) for Goods and Service Tax classification. This service comes under Licensing services for the right to use R&D products , 7 - Financial and related services; real estate services; and rental and leasing services . Heading number of this service is 9973 and the group number is 99733 . 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.