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Legal & Accounting

SAC 998240

Insolvency and receivership services

18% GST

What is SAC code 998240?

SAC (Service Accounting Code) 998240 classifies insolvency and receivership services under the Indian GST framework. The applicable GST rate is 18%. This SAC falls under the Legal & Accounting service category.

GST rate
18%
Intra-state split
CGST 9% + SGST 9%

When to use SAC 998240

  • Issuing tax invoices for insolvency and receivership 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 998240→ Calculate GST at 18%→ Find another SAC

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