Transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration.
SAC code 997318 is
a 6-digit Services Accounting Code (SAC) used in India for GST classification.
It covers: Transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration..
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 997318?
SAC 997318 refers to: Transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration.. It belongs to Chapter 99 (Services (SAC)) of the GST tariff.
What is the GST rate for SAC code 997318?
The GST rate for SAC code 997318 is 18% — CGST 9% + SGST 9% for intra-state, or IGST 18% for inter-state supply.
Is SAC code 997318 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 997318 belong to?
SAC code 997318 belongs to Chapter 99 of the GST tariff, which covers Services (SAC).
