What does the SAC code mean in the context of GST?
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SAC (Services Accounting Code) is a classification system used under GST in India to categorize various services. It applies to all services rendered within India and functions similarly to the HSN (Harmonized System of Nomenclature) code, which is used for goods.
The SAC codes are defined by the GST Council and are used for:
Identifying services for taxation purposes
Ensuring uniform classification across India
Determining the applicable GST rates for different services
