What is SAC code 997113?

SAC (Service Accounting Code) 997113 classifies credit-granting services including stand-by commitment, guarantees & securities under the Indian GST framework. The applicable GST rate is 18%. This SAC falls under the Financial Services service category.

GST rate

18%

Intra-state split

CGST 9% + SGST 9%

When to use SAC 997113

Issuing tax invoices for credit-granting services including stand-by commitment, guarantees & securities
Filing GSTR-1 with service-wise summary
Reverse charge mechanism (RCM) classification where applicable
Place of supply determination for services

Note: SAC codes are 6-digit; the first 4 represent the chapter group. Verify with gst.gov.in.

→ Generate invoice with SAC 997113 → Calculate GST at 18%→ Find another SAC