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SAC Code 9961 falls within the category of Services in Wholesale Trade in the Services Accounting Code (SAC) system. Developed by the Indian government, the SAC system serves as a classification framework for services, ensuring accurate taxation. SAC Code 9961 covers a broad spectrum of professional and technical services rendered by individuals or businesses, encompassing transportation, advisory, and other specialized services.
Services in wholesale trade fall under the SAC code 9961. The different services in wholesale trade are as follows:
SAC Code 9961 under GST can be classified in the following ways:
| SAC Code | Description | Rates(%) |
|---|---|---|
| 9961 | Service provided by Fair Price Shops to Central Government by way of sale of wheat, rice and coarse grains under Public Distribution System(PDS) against consideration in the form of commission or margin. | Nil |
| 9961 | Service provided by Fair Price Shops to State Governments or Union territories by way of sale of kerosene, sugar, edible oil, etc. under Public Distribution System (PDS) against consideration in the form of commission or margin. | Nil |
| 9961 | Services in wholesale trade. Explanation-This service does not include sale or purchase of goods but includes: Ð Services of commission agents, commodity brokers, and auctioneers and all other traders who negotiate wholesale commercial transactions between buyers and sellers, for a fee or commissionÕ Ð Services of electronic wholesale agents and brokers, Ð Services of wholesale auctioning houses. | 18% |
| 996111 | Services provided for a fee/commission or contract basis on wholesale trade | 18% |
The entire content on this page has been arranged to the best of the author’s understanding and is subject to periodic updates as per the law for the time being in force. The above does not constitute professional advice or a formal recommendation. While due care has been taken in preparing this content, the existence of mistakes and omissions cannot be ruled out. Busy Infotech Private Ltd. and its associates will not be held responsible for any loss or damage arising from any inaccurate or incomplete information in this document. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.
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BUSY is a simple, yet powerful GST / VAT compliant Business Accounting Software that has everything you need to grow your business.