What is SAC Code?
- The SAC Code means Services Accounting Code under which services fall under GST are classified. HSN code and SAC code are the codes used to classify goods and services under the GST regime in India.
- Services Accounting Code (SAC) is a classification system for services that are developed by the Service Tax Department of India. With the help of GST SAC code, the GST rates for services are fixed in five slabs namely 0\\%, 5\\%, 12\\%, 18\\%, and 28\\%.
Indian Taxation System has categorized roughly over 120 services for levy of GST under 5 broad categories or tax-slabs.
The first 2 digits (99) are common for all services.
The next 2 digits represent the major nature of service.
The last 2 digits represent the detailed nature of service.
Fig.22. Select the Charge Map to enter the SAC Code (Fig.3).
Fig.33. Now you can view the list of charges in COA Charge Map List, click the Edit button (Fig.4)
Fig.44. In Charge Edit, enter the SAC Code in SAC Code Column and click Save Changes button (Fig.5)
Fig.54. Once Saved the SAC Code, you can view the SAC Code in screen (Fig.6)
Fig.6.5. Now while generating the report, it will reflect with the Charge SAC Code (Fig.7).
Fig.7I hope you got an idea about to enter the SAC Code in Charge Map.