The SAC code may classify the services offered by IT service providers under a number of different topics.. In this article we will discuss about sac code for consultancy services.
The SAC code 9983 is dedicated to ‘Other Professional Services,’ a comprehensive category that spans a diverse range of specialized services provided by professionals possessing unique expertise. These services, often defying categorization in conventional terms, demand specialized knowledge and skills in niche areas. SAC 9983 acknowledges the distinctive nature of these offerings, recognizing the need for a specific code to encompass the wide spectrum of specialized professional services that may not neatly fit into predefined categories. This code serves as a vital tool for classification and identification within the realm of professional services, reflecting the nuanced and intricate nature of the expertise provided by professionals in various specialized fields. Let’s have a look at the SAC Code for Consultancy Services.
Scope of SAC Code 9983
SAC Code 9983 encompasses a broad spectrum of specialized services, showcasing its versatility within the professional services landscape. Notable examples include:
Specialized Photography Services
Aerial, fashion, product, wildlife, and various other specialized forms of photography fall under this category.
Event Management Services
Professionals excel in planning and executing events, covering conferences, exhibitions, weddings, corporate functions, and more.
Interior Decorator Services
Experts in this field enhance the aesthetic and functional appeal of interior spaces, offering services for both residential and commercial properties.
Security Services
Services ensuring safety and security, such as manned guarding, CCTV surveillance, access control systems, alarm monitoring, and other security-related solutions.
Graphic Designing
Creative professionals utilize their skills to craft visual content, including logos, brochures, websites, advertisements, and various graphic design projects.
SAC Code for Consultancy Services and IT
Under the categorization of “Goods and Services Tax,” business consulting services, including public relations services, are identified by the SAC code 998312. The service is identified by its SAC (Services Accounting Code), and other professional, technical, and business services including this service. The – in India decides the GST rate for goods and services. Code, a system for categorizing services developed by the service tax department in India, serves as the foundation for the GST rate for IT services. In India, there are five tax brackets for services provided: 0%, 5%, 12%, 18%, and 28%. On the other hand, commodities are taxed according to the HSN code, a global system for classifying items that over 200 nations have accepted for import and export. Seven tax rates apply to goods: 0%, 0.25%, 3%, 5%, 12%, 18%, and 28%. In-depth analysis of the GST rates.
GST Registration for Information Technology Service Providers
The majority of IT service providers will need to register for GST as they may be involved in supplying OIDAR services or interstate supplies of services. According to the GST Act, anyone who renders taxable services worth more than ₹ 20lakh annually (in all states, save the Special Category States), engages in the interstate supply of goods and/or services, renders OIDAR services or renders online services must register for GST.
IT Service Providers’ SAC Code
The SAC code may classify the services offered by IT service providers under several different topics. Some of the pertinent code headings for IT service providers include the following:
Information Technology Services
SAC Code 998311 – This code is for management services and management consultancies. For instance, marketing, financial, operational, human resource, strategic, and supply chain management.
SAC Code 998312 – This code is for public relations services under business consulting services.
SAC Code 998313 – This code is for support services like IT and consultancy services.
SAC Code 998314 – this code is for design and development services under the information technology services
SAC Code 998315 – Code for infrastructure provisioning services for information technology and hosting.
SAC Code 998316 – This code is for the management of network services and information technology infrastructure.
SAC Code 998319 – This code is for the other IT-related services that do not fall in the above categories.
Internet Telecommunications Services
SAC Code 998431 – This code is for text-based information such as in the form of periodicals, newspapers, directories, books, texts, etc on the online platform.
SAC Code 998432 – The content in the form of audio available online
SAC Code 998433 – The content in the form of videos available online
SAC Code 998434 – To download software
SAC Code 998439 – The other online content which does not fall in the above category
Maintenance, Repair, and Installation Services
SAC Code 998712 – This code is for the repair and maintenance of the office and accounting of the machinery.
SAC Code 998713 – This code is for the repair and maintenance of computers and peripheral apparatus.
SAC Code 998716 – This code is for the repair and maintenance of apparatus and telecommunication equipment.
SAC Code 998733 – This code is for the services related to the installation of computers, offices, and accounting machinery.
SAC Code 998734 – This code is for the services related to the installation of apparatus, communication services, radio, television, etc.
Other Types of IT Services
SAC Code 998144 – This code is for the computer science research and development concept
SAC Code 998593 – This code is for the telephone-based services
SAC Code 998598 – This code is for the other information services that do not fall into the above categories
GST Rate for IT Service Providers
The information technology (IT) or consultancy service provider attracts 18% GST, as per the GST of default category for services.
How Is 998312 of the Services Accounting Codes Derived?
- The Service Accounting Code is generated using a standard format.
- For services, the first two digits are always 99.
- The next two digits, 83, indicate the primary service category in this example, other professional, technical, and business services.
- The following two digits, 12, stand for the specific type of service, in this case, business consulting services that also include public relations services.
Reason for Code 998312
This service code covers giving advice, direction, and operational help with regional, industrial, or tourism development; giving advice, direction, and operational help with ways to enhance an organization’s or person’s reputation and relationships with the general public, government, voters, shareholders, and others; and other business consulting services.
This service code excludes these two:
- Advertising planning and creation: 998361
- Services for gathering public opinion: 998372
Conclusion
Under group 99831 (Management consulting and management services; information technology services) of the GST services classification, SAC (Services Accounting Code) code 998312 is categorized. Group 99831 is a part of heading 9983 (other professional, technical, and business services). The GST rate set by default for these services is 18%. Vakilsearch provides in-depth knowledge and assistance regarding the SAC code for consultancy and professional services as per the Indian Taxation Law.
FAQs
What is SAC code 998313?
SAC Code 998313 pertains to 'Photographic and Videographic Processing Services,' specifically covering the processing, printing, and reproduction of photographs and videos. This code is instrumental in classifying services related to the intricate processes involved in handling visual content.
What is SAC code 998315?
SAC Code 998315 refers to 'Event, Performance, and Conference Services,' encompassing the planning, organization, and execution of events, performances, and conferences. This code is crucial for categorizing services related to the management and coordination of various gatherings and presentations.
What is SAC code 998316?
SAC Code 998316 is associated with 'Interior Design and Decorating Services.' This code is specifically designed for classifying services provided by professionals who specialize in enhancing the aesthetic appeal and functionality of interior spaces through innovative design and decoration.
What is SAC code 998319?
SAC Code 998319 covers a range of 'Other Specialised Design Services.' This code is inclusive of services that involve specialized design work not captured by specific sub-categories. It serves as a comprehensive classification for diverse and unique design services falling outside conventional categorizations.
