What is SAC code 997142?

SAC (Service Accounting Code) 997142 classifies accident and health reinsurance services 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 997142

Issuing tax invoices for accident and health reinsurance services
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 997142 → Calculate GST at 18%→ Find another SAC

Related SAC codes in Financial Services

Credit-granting services including stand-by commitment, guarantees & securities

18%

997114

Financial leasing services

18%

997119

Other financial services (except investment banking, insurance services and pension services)

18%

997120

Investment banking services

18%

997133

Accident and health insurance services

18%