SAC Code and GST on Legal, Accounting and Professional Services

The GST Council fixed the GST on Legal, Accounting and Professional Services. GST rate for services fall under 0% or 5% or 12% or 18% or 28% slab. GST rate is fixed based on SAC code or services accounting code, a services classification system developed by the service tax department. In this article, we look at the SAC code and GST rate for legal, accounting and professional services in India. Professionals classified as taxable persons under GST must obtain

GST registration.

SAC Codes for Legal Services

SAC Code for legal services are as follows: SAC Code 998211 - Legal advisory and representation services concerning criminal law. SAC Code 998212 - Legal advisory and representation services concerning other fields of law. SAC Code 998213 - Legal documentation and certification services concerning patents, copyrights and other intellectual property rights. SAC Code 998214 - Legal documentation and certification services concerning other documents. SAC Code 998215 - Arbitration and conciliation services SAC Code 998216 - Other legal services Legal services provided by an Advocate or Firm of Advocates or an Arbitral Tribunal to any person other than a business entity or a business entity with a turnover of upto Rs.20 lakhs (Rs. 10 lakhs in special category states) is exempt from GST.

Click here to read on SAC Code and GST Rate for Cleaning Services

Accounting, Auditing and Bookkeeping Services

SAC code for accounting, auditing and bookkeeping services are as follows: SAC Code 998221 - Financial auditing services SAC Code 998222 - Accounting and bookkeeping services SAC Code 998223 - Payroll services SAC Code 998224 - Other similar services GST rate for accounting, auditing and bookkeeping services is 18%.

Tax Consultancy and Preparation Services

SAC code for tax consultancy and preparation are as follows: SAC Code 998231 - Corporate tax consulting and preparation services SAC Code 998232 - Individual tax preparation and planning services GST rate for tax consultancy and preparation services is 18%.

Insolvency and Receivership Services

SAC code for insolvency and receivership services are as follows: SAC Code 998240 - Insolvency and receivership services GST rate for insolvency and receivership services is 18%.

Other Professional, Technical and Business Services

SAC code for other professional, technical and business services are as follows: SAC Code 998391 - Specialty design services including interior design, fashion design, industrial design and other speciality design services SAC Code 998392 - Design originals SAC Code 998393 - Scientific and technical consulting services SAC Code 998394 - Original compilations of facts/information SAC Code 998395 - Translation and interpretation services SAC Code 998396 - Trademarks and franchises SAC Code 998397 - Sponsorship Services & Brand Promotion Services SAC Code 998399 - Other professionals, technical and business services 18% GST rate is applicable for other professionals, technical and business services.

Know more about GST rate for medical services or 1 for all services.

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Frequently Asked Questions

Common questions about GST on Legal, Accounting and Professional Services in India.

A SAC code, or Services Accounting Code, is a classification system developed by the service tax department to categorize different types of services for taxation purposes under GST. Each service is assigned a unique SAC code, which determines the applicable GST rate.

Legal services provided by an advocate or firm of advocates or an arbitral tribunal to any person other than a business entity or a business entity with a turnover of up to Rs.20 lakhs (Rs.10 lakhs in special category states) are exempt from GST.

The different SAC codes for legal services are 998211 (legal advisory and representation services concerning criminal law), 998212 (legal advisory and representation services concerning other fields of law), 998213 (legal documentation and certification services concerning patents, copyrights and other intellectual property rights), 998214 (legal documentation and certification services concerning other documents), 998215 (arbitration and conciliation services), and 998216 (other legal services).

The GST rate for accounting, auditing, and bookkeeping services, which include financial auditing services (SAC code 998221), accounting and bookkeeping services (SAC code 998222), payroll services (SAC code 998223), and other similar services (SAC code 998224), is 18%.

The GST rate for tax consultancy and preparation services, which include corporate tax consulting and preparation services (SAC code 998231) and individual tax preparation and planning services (SAC code 998232), is 18%.

The GST rate for insolvency and receivership services (SAC code 998240) is 18%.

Other professional, technical, and business services that attract 18% GST include specialty design services (SAC code 998391), design originals (SAC code 998392), scientific and technical consulting services (SAC code 998393), original compilations of facts/information (SAC code 998394), translation and interpretation services (SAC code 998395), trademarks and franchises (SAC code 998396), sponsorship services & brand promotion services (SAC code 998397), and other professional, technical, and business services (SAC code 998399).

Yes, the article states that professionals classified as taxable persons under GST must obtain GST registration.

SAC codes are used to classify different types of services, and the GST rate for a particular service is fixed based on its SAC code. The GST rates for services can be 0%, 5%, 12%, 18%, or 28%, depending on the SAC code assigned to the service.

Yes, the SAC code for corporate tax consulting and preparation services is 998231.