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Financial Services

SAC 997157

Foreign exchange services

18% GST

What is SAC code 997157?

SAC (Service Accounting Code) 997157 classifies foreign exchange 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 997157

  • Issuing tax invoices for foreign exchange 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 997157→ Calculate GST at 18%→ Find another SAC

Related SAC codes in Financial Services

997112
Deposit services
18%
997113
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%