--- title: "Accident Insurance Services | Professional Accident Insurance Solutions" description: "Expert accident insurance services covering compliant, reliable, and high-quality solutions tailored to your needs. SAC Code 997133." canonical: "https://busy.in/sac-code-997133/" --- # Accident Insurance under SAC Code 997133 Part of [SAC 9971: Financial & related services](https://busy.in/sac-code-9971/). General insurance services provide risk cover for assets, liabilities and events such as fire, theft, accidents and business interruptions. Policyholders pay premiums and insurers pay claims when covered events occur. Under GST, such general insurance services are classified under SAC 997133. This SAC code and its GST treatment decide how GST is charged on non life insurance premiums and related fees. These covers help households and businesses manage financial impact of unexpected damage or loss. ## 997133 SAC Code GST rate Life, health, general and specialised insurance services under these codes are treated as insurance services under GST. In most standard policies, the premium charged to customers is subject to GST, while certain government notified schemes or social security type covers may enjoy concessional or exempt treatment. After the September 2025 rationalisation, taxable insurance premiums for regular commercial and retail policies are generally placed in the 18 % slab with input tax credit for business policyholders, subject to specific conditions. Concessional or exempt treatments for selected life and health products continue as per the latest GST notifications and circulars. **The table below explains the broad GST treatment for SAC code 997133, showing the standard 18 % slab for taxable insurance premiums and special cases where notified benefits apply.** | SAC code | Description | New GST rate (from 22 Sep 2025) | Old GST rate (till 21 Sep 2025) | Notes | | --- | --- | --- | --- | --- | | 997133 | Accident and health insurance services | 0% without ITC or 18% with ITC | 0% without ITC or 18% with ITC | Earlier, only certain government health schemes were exempt; most retail and group health / personal accident policies were taxed at 18% with ITC. From 22 Sep 2025, all individual health insurance policies (including family floater and senior citizen plans) move to 0% without ITC, while group and corporate covers continue at 18% with ITC. The code itself covers both health and accident; the practical split now depends on whether the insured is an individual (or individual + family) versus a group. | Insurers and intermediaries using this SAC code should split premium, GST and any stamp duty or other levies clearly on policy documents and invoices. They should mention the GST rate in %, use the correct SAC and ensure the same treatment is reflected in GSTR 1 and GSTR 3B so that business customers can manage input tax credit and compliance properly. ## Practical classification guidance Banks, NBFCs, insurers and intermediaries should map each product to the correct SAC, checking whether the income is fee based and taxable or interest or risk cover that may have special treatment. Proper SAC selection and correct GST rate application in % reduce disputes, help customers claim input tax credit on eligible charges and keep GST returns easier to justify during audits. ## Conclusion General insurance services under SAC 997133 cover a wide range of non life risks such as fire, theft and business interruption. Premiums on such policies are usually taxable at 18 % with input tax credit for eligible business policyholders. Insurers should map their products to SAC 997133, apply the correct GST rate in %, disclose tax clearly on invoices and ensure that GST returns mirror the same classification so that audits and assessments remain straightforward. ## Frequently asked questions ### What is SAC code 997133 in GST for accident and health insurance? SAC 997133 covers accident, medical and health insurance services. It includes policies like mediclaim, group health insurance and personal accident covers offered by general insurers or health insurers to individuals, companies and organisations for covering medical and accident risks. ### Does SAC 997133 cover accident, medical and health insurance policy services? Yes. Policies that cover hospitalisation, day care procedures, medical expenses and accident related disability or death are included under SAC 997133. These are non life insurance products that focus on protecting against health and accident costs for individuals or groups. ### What GST rate applies to premiums under SAC 997133? Health and accident insurance premiums are generally taxed at 18% under GST on the premium amount, including group policies. The entire premium is usually subject to GST, unlike some life insurance products where only a portion may be taxable as per specific rules. ### Are personal accident and mediclaim policies billed using SAC 997133? Yes. Personal accident, mediclaim and similar medical expense policies use SAC 997133. Insurers issue GST invoices or statements showing premium and GST, and policyholders pay a total amount that includes GST as part of the insurance cost for such non life covers. ### Is any ITC available on GST paid for SAC 997133 policies taken for employees? In general, ITC on health insurance for employees is blocked unless it is mandated by law or the registered person is in the business of supplying such insurance services. Companies should check GST provisions carefully before claiming input tax credit on health insurance premiums for staff. ## Explore more ### Other SAC services under 9971 - [997111: Central Banking](https://busy.in/sac-code-997111/) - [997112: Deposit](https://busy.in/sac-code-997112/) - [997113: Credit Granting](https://busy.in/sac-code-997113/) - [997114: Equipment Leasing](https://busy.in/sac-code-997114/) - [997119: Financial](https://busy.in/sac-code-997119/) - [997120: Investment Banking](https://busy.in/sac-code-997120/) - [997131: Pension](https://busy.in/sac-code-997131/) - [997132: Life Insurance](https://busy.in/sac-code-997132/) - [997134: Motor Insurance](https://busy.in/sac-code-997134/) - [997135: Transport Insurance](https://busy.in/sac-code-997135/) - [997136: Freight Insurance](https://busy.in/sac-code-997136/) - [997137: Property Insurance](https://busy.in/sac-code-997137/) - [997139: Non Life Insurance](https://busy.in/sac-code-997139/) - [997141: Life Reinsurance](https://busy.in/sac-code-997141/) - [997142: Accident Reinsurance](https://busy.in/sac-code-997142/) - [997143: Motor Reinsurance](https://busy.in/sac-code-997143/) - [997144: Marine Reinsurance](https://busy.in/sac-code-997144/) - [997145: Cargo Insurance](https://busy.in/sac-code-997145/) - [997146: Commercial Property Insurance](https://busy.in/sac-code-997146/) - [997149: Non Life Reinsurance](https://busy.in/sac-code-997149/) - [997151: M&A Advisory](https://busy.in/sac-code-997151/) - [997152: Stock Brokerage](https://busy.in/sac-code-997152/) - [997153: Portfolio Management](https://busy.in/sac-code-997153/) - [997154: Custody](https://busy.in/sac-code-997154/) - [997155: Financial Market](https://busy.in/sac-code-997155/) - [997156: Financial Consulting](https://busy.in/sac-code-997156/) - [997157: Foreign Exchange](https://busy.in/sac-code-997157/) - [997158: Transaction Processing](https://busy.in/sac-code-997158/) - [997159: Financial Support](https://busy.in/sac-code-997159/) - [997161: Insurance Advisory](https://busy.in/sac-code-997161/) - [997162: Insurance Claim](https://busy.in/sac-code-997162/) - [997163: Actuarial](https://busy.in/sac-code-997163/) - [997164: Pension Fund Management](https://busy.in/sac-code-997164/) - [997169: Insurance Support](https://busy.in/sac-code-997169/) - [997171: Holding Company](https://busy.in/sac-code-997171/) - [997172: Trust Fund Management](https://busy.in/sac-code-997172/) ### All SAC headings - [99: All Services Accounting](https://busy.in/sac-code-99/) - [9954: Services in building & construction](https://busy.in/sac-code-9954/) - [9961: Services in wholesale trade](https://busy.in/sac-code-9961/) - [9962: Services in retail trade](https://busy.in/sac-code-9962/) - [9963: Accommodation, food & beverage services](https://busy.in/sac-code-9963/) - [9964: Passenger transport services](https://busy.in/sac-code-9964/) - [9965: Goods transport services](https://busy.in/sac-code-9965/) - [9966: Rental services of transport vehicles](https://busy.in/sac-code-9966/) - [9967: Supporting services in transport](https://busy.in/sac-code-9967/) - [9968: Postal & courier services](https://busy.in/sac-code-9968/) - [9969: Electricity, gas & water supply services](https://busy.in/sac-code-9969/) - [9971: Financial & related services](https://busy.in/sac-code-9971/) - [9972: Real estate services](https://busy.in/sac-code-9972/) - [9973: Leasing or rental services](https://busy.in/sac-code-9973/) - [9981: Research & development services](https://busy.in/sac-code-9981/) - [9982: Legal & accounting services](https://busy.in/sac-code-9982/) - [9983: Professional, technical & business services](https://busy.in/sac-code-9983/) - [9984: Telecommunications & broadcasting supply services](https://busy.in/sac-code-9984/) - [9985: Support services to business](https://busy.in/sac-code-9985/) - [9986: Support services to agriculture, hunting, forestry & more](https://busy.in/sac-code-9986/) - [9987: Maintenance, repair & installation services](https://busy.in/sac-code-9987/) - [9988: Manufacturing services on physical inputs](https://busy.in/sac-code-9988/) - [9989: Services in publishing, printing & bookbinding](https://busy.in/sac-code-9989/) - [9991: Public administration & other services](https://busy.in/sac-code-9991/) - [9992: Education services](https://busy.in/sac-code-9992/) - [9993: Human health & social care services](https://busy.in/sac-code-9993/) - [9994: Sewage & waste collection](https://busy.in/sac-code-9994/) - [9995: Services of membership organizations](https://busy.in/sac-code-9995/) - [9996: Recreational, cultural & sporting services](https://busy.in/sac-code-9996/) - [9997: Other Services](https://busy.in/sac-code-9997/)