SAC code 998729 refers to maintenance and repair services of other goods n.e.c. (not elsewhere classified). Under India's Goods and Services Tax (GST) regime, this code falls under the 9987 group for maintenance and repair services of movable goods, typically attracting a GST rate of 18%.
HSN Code 998729: Maintenance and repair services of other goods n.e.c.
HSN Code 998719: Maintenance and repair services of other machinery and equipments.
The maintenance service of electronic equipment qualifies to be under 99872 such as an IT services provider. The GST rate for such services is also 18 per cent.
HSN Code 9987 – Maintenance and Repair Services – Bajaj Finance.
GST rate: The standard GST rate on maintenance charges is 18%. However, the actual rate may vary depending on the nature of the services offered.
SAC codes are allotted to services. HSN codes are used to classify goods. SAC codes are a modified version of the UNCPC code system, adapted by the CBIC for Indian services. HSN codes are based on WCO's HSN nomenclature system, used globally for goods classification, with adaptations for India.
Is it mandatory to provide HSN/Service Classification Codes? You are required to provide a minimum of just one goods or service (one HSN or Service Classification Code code).
SAC Code 995419 - Services involving Repair, alterations, additions, replacements, renovation, maintenance or remodelling of the buildings covered above. GST rate of 18% is applicable for construction of a complex, building, civil structure or a part thereof, intended for sale to a buyer, wholly or partly.
SAC Code 99972 refers to "Beauty and physical well-being services" under the Services Accounting Code (SAC) system for services under GST. It falls under the heading "Other services".
HSN Code 9987: Maintenance and repair services of fabricated metal products, except machinery and equipment.
A single wrong HSN code can cause a chain reaction across your accounting and compliance system: Tax rate mismatch: Incorrect HSN = wrong GST rate = wrong tax collected or paid. Return reconciliation errors: GSTR-1 vs GSTR-3B mismatches. Customer disputes: Buyers may lose input tax credit.
The movement of machinery for repairs is not a taxable supply under the GST law. The Central Government's Circulars dated 07.07. 2017 and 22.11. 2017 expressly clarify that such movement of goods for repairs is neither supply of goods nor supply of services.
The HSN code for sanitizer is 3808 and the GST rate for sanitizer is 18%.
Under GST, these logistics warehousing and storage services are classified under SAC 996729. This SAC code and its GST rate decide how GST applies on warehousing charges. This helps businesses convert storage into a managed logistics solution instead of just raw space.
The 40% GST is now a single consolidated rate for sugar-added, flavoured, or carbonated drinks, including cola, lemonade, and fruit-based fizzy beverages. The previous 12% compensation cess has been removed. All aerated soft drinks, whether fruit-based or cola-based, now attract 40% GST under the sin goods category.
HSN code for Repair and maintenance services is 9987 and GST rate for these services is 18%. However, this is general categorization, and it is further subclassified based on the type of repair and maintenance services by adding two more digits as suffix.
HSN Code 995479: Services involving repair, alterations, additions, replacements, maintenance of the completion/finishing works covered above.
9988. Other Manufacturing services on physical inputs (goods) owned by others, 18% with ITC. 18% with ITC. Generic manufacturing or processing services on goods owned by others that are not covered by any concessional job work entry continue to be taxed at the standard service rate.
HS (Harmonised System) is an international classification system for goods, while HSN (Harmonised System of Nomenclature) code is a subset of HS codes. HSN codes provide a more detailed classification, making them suitable for tax purposes under GST.
What happens if I use the wrong HTS code? Using an incorrect HTS code can result in underpayment or overpayment of duties, CBP penalties, cargo delays, or denial of trade preference benefits. If you underpaid duties, you'll owe the difference plus interest and potentially penalties.
Phase 2: (Effective November 2022) Phase 2 required businesses with a turnover up to ₹5 crore to use 4-digit HSN codes, while businesses above ₹5 crore maintained 6-digit codes.
Yes, it is mandatory for service providers to furnish the SAC code if their annual aggregate turnover exceeds Rs. 5 crore. For businesses earning below Rs. 5 crore, a 4-digit SAC code must be furnished for B2B transactions.
Using the wrong SAC Code can lead to incorrect tax filings, potential penalties, and delays in GST returns or refunds.