SAC code 9971

Heading in chapter 99 — All Services

SAC code

9971

Financial and related services

Classification

Code type	SAC — Services Accounting Code
Level	Heading (4 digits)
Chapter 99	All Services
Heading 9971	Financial and related services

41 codes under SAC 9971

SAC code	Description
`997111`	Central banking services
`997112`	Deposit services
`997113`	Credit-granting services including stand-by commitment, guarantees and securities
`997114`	Financial leasing services
`997115`	Transfer of the right to use any goods for any purpose (whether or not for a specified period) for cash, deferred payment or other valuable consideration
`997116`	Any transfer of right in goods or of undivided share in goods without the transfer of title thereof
`997119`	Other financial services (except investment banking, insurance services and pension services)
`997120`	Investment banking services
`997131`	Pension services
`997132`	Life insurance services (excluding reinsurance services)
`997133`	Accident and health insurance services
`997134`	Motor vehicle insurance services
`997135`	Marine, aviation, and other transport insurance services
`997136`	Freight insurance services and travel insurance services
`997137`	Financial and related services – other property insurance services
`997138`	Freight insurance services and travel insurance services
`997139`	Other non-life insurance services (excluding reinsurance services)
`997141`	Life reinsurance services
`997142`	Accident and health reinsurance services
`997143`	Motor vehicle reinsurance services
`997144`	Marine, aviation and other transport reinsurance services
`997145`	Freight reinsurance services
`997146`	Financial and related services – other property reinsurance services
`997147`	Financial and related services – other property reinsurance services
`997149`	Financial and related services – other non-life reinsurance services
`997151`	Services related to investment banking such as mergers and acquisition services, corporate finance and venture capital services
`997152`	Brokerage and related securities and commodities services including commodity exchange services
`997153`	Portfolio management services except pension funds
`997154`	Trust and custody services
`997155`	Services related to the administration of financial markets
`997156`	Financial consultancy services
`997157`	Foreign exchange services
`997158`	Financial transactions processing and clearing house services
`997159`	Other services auxiliary to financial services
`997161`	Services auxiliary to insurance and pensions
`997162`	Insurance claims adjustment services
`997163`	Actuarial services
`997164`	Pension fund management services
`997169`	Other services auxiliary to insurance and pensions
`997171`	Services of holding equity of subsidiary companies
`997172`	Services of holding securities and other assets of trusts and funds and similar financial entities

Using SAC 9971 in GST

On GST invoices, a business with annual turnover up to ₹5 crore must show at least the first 4 digits (9971) on B2B invoices, and a business above ₹5 crore must show 6 digits on all invoices. The full 8-digit code is used for imports and exports.

The GST rate depends on the exact goods or service and any conditions in the rate notification, so it is not listed here. Check the official CBIC GST rate finder, then work out the tax with the GST calculator or make a bill with the GST invoice generator.

Frequently asked questions

What is SAC code 9971?

SAC code 9971 is the heading for: Financial and related services.

What is the GST rate for SAC 9971?

GST rates are set by CBIC rate notifications and can depend on conditions, so check the CBIC GST rate finder for SAC 9971 before invoicing.

How many codes are under SAC 9971?

41 more detailed codes are listed directly under SAC 9971 in the GST list.