CGST+SGST apply to intra-state transactions. IGST applies to inter-state and imports. Cess may apply additionally for certain goods.
About SAC Code 9971
SAC code 9971 is
a 4-digit Services Accounting Code (SAC) used in India for GST classification.
It covers: Financial and related services.
This code falls under Chapter 99
(Services (SAC)) of the Indian GST tariff.
The applicable GST rate is 18%
(CGST 9% + SGST 9% for intra-state, or IGST 18% for inter-state transactions).
Who needs this code? Any GST-registered business supplying
services classified under this
SAC code must quote it on their tax invoices.
Turnover above ₹5 crore requires 6-digit SAC codes;
exporters must use 8-digit HSN codes.
Frequently Asked Questions
What is SAC code 9971?
SAC 9971 refers to: Financial and related services. It belongs to Chapter 99 (Services (SAC)) of the GST tariff.
What is the GST rate for SAC code 9971?
The GST rate for SAC code 9971 is 18% — CGST 9% + SGST 9% for intra-state, or IGST 18% for inter-state supply.
Is SAC code 9971 mandatory on invoices?
Yes. If your business supplies goods/services under this code, you must quote the HSN/SAC code on GST invoices. Businesses with turnover below ₹5 crore use 4-digit HSN; above ₹5 crore use 6-digit; exporters use 8-digit.
What chapter does SAC code 9971 belong to?
SAC code 9971 belongs to Chapter 99 of the GST tariff, which covers Services (SAC).