997231

SAC Code 997231: GST Rate & Description

Services by way of grant of development rights, fsi or additional fsi
SAC Chapter 99 — Services (SAC) 6-digit code 18% GST
Parent codes: 99 — All services 9972 — Real estate services
GST Rate Breakdown
CGST
9%
SGST / UTGST
9%
IGST
18%

CGST+SGST apply to intra-state transactions. IGST applies to inter-state and imports. Cess may apply additionally for certain goods.

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Related SAC codes (12 codes)
997211 Rental or leasing services involving own or leas… 997212 Rental or leasing services involving own or leas… 997213 Trade services of buildings 997214 Trade services of time-share properties 997215 Trade services of vacant and subdivided land 997219 Other real estate services involving owned or le… 997221 Property management services on a fee or commiss… 997222 Building sales on a fee or commission basis or o… 997223 Land sales on a fee or commission basis or on co… 997224 Real estate appraisal services on a fee or commi… 997229 Other real estate services on a fee or commissio… 997231 Services by way of grant of development rights,…

About SAC Code 997231

SAC code 997231 is a 6-digit Services Accounting Code (SAC) used in India for GST classification. It covers: Services by way of grant of development rights, fsi or additional fsi.

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 997231?
SAC 997231 refers to: Services by way of grant of development rights, fsi or additional fsi. It belongs to Chapter 99 (Services (SAC)) of the GST tariff.
What is the GST rate for SAC code 997231?
The GST rate for SAC code 997231 is 18% — CGST 9% + SGST 9% for intra-state, or IGST 18% for inter-state supply.
Is SAC code 997231 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 997231 belong to?
SAC code 997231 belongs to Chapter 99 of the GST tariff, which covers Services (SAC).