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Finance
SAC 997161
Financial leasing services
18% GST
What is SAC code 997161?
SAC (Service Accounting Code) 997161 classifies financial leasing services under the Indian GST framework. The applicable GST rate is 18%. This SAC falls under the Finance service category.
GST rate
18%
Intra-state split
CGST 9% + SGST 9%
When to use SAC 997161
Issuing tax invoices for financial leasing 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.