Table of Contents
What is SAC HSN code?
SAC stands for Servicing Accounting Code and is used to classify services instead of goods. All services tend to begin with the number 99, which is what identifies the code as a SAC and not an HSN.
Is there GST on photocopy?
Yes, The said service is taxable at 18\% under GST chapter heading 9989. Chapter 9989 is produced as “Other manufacturing services; publishing, printing and reproduction services; materials recovery services.”
What is HSN and SAC under GST?
HSN means Harmonized System of Nomenclature code used for classifying the goods under the GST, Goods and Service Tax. The SAC code means Services Accounting Code under which services fall under GST are classified. HSN code and SAC code are the codes used to classify goods and services under GST regime in India.
Is SAC code mandatory in GST invoice?
SAC code is not mandatory if the companies turnover is less than Rs. 1.5 crores. SAC code is mandatory for the business turnover is between Rs. 5 Crs turnover of the dealer or company one must mention the SAC codes.
What is the GST percentage?
In India GST rate for various goods and services is divided into four slabs: they are 5\% GST, 12\% GST, 18\% GST, & 28\% GST. The GST rates for various products have been revised several times by the GST council since the inception of the Goods and Services Tax (GST).
What is the HSN code for printing services?
HSN Code Chapter 48 for Printing Services Goods that are attract CGST & SGST/UTGST @ 2.5\% or Nil / IGST @ 5\% or NIL News print in rolls or sheets Judicial, Non-Judicial stamp papers, Court fee stamps when it is sold by the Government Treasuries or Vendors authorized by the Government
What is HSN/SAC 9988?
HSN/SAC 9988: Manufacturing services on physical inputs (goods) owned by others: Get the brief introduction of SGST, IGST and CGST. We have mentioned their full forms, meanings and adjustments of input tax credit under GST in India.
Is GST applicable on print industry?
Printing Industry is a very wide Industry ranging from Newspapers to Commercial Books and Periodicals. Involvement of Jobwork and changes in definitions have made significant changes in the way GST Applies on Printing Works vis-à-vis Earlier VAT & Service Tax Regime. This article is less legal and more for information purpose.
What is the GST rate applicable on government textbooks?
Recently the AAR has held that the textbooks for the government departments will saw 12\% GST rate applicable on them. The authority of advance ruling has held that the printing and supply of such textbooks for the government department will be taxed at 12\% from now onward.