SAC 997223

What is SAC code 997223?

SAC (Service Accounting Code) 997223 classifies land sales on a fee/commission basis or contract basis under the Indian GST framework. The applicable GST rate is 18%. This SAC falls under the Real Estate service category.

When to use SAC 997223

• Issuing tax invoices for land sales on a fee/commission basis or contract basis
• Filing GSTR-1 with service-wise summary
• Reverse charge mechanism (RCM) classification where applicable
• Place of supply determination for services