--- title: "Commercial Property Insurance Services | Professional Commercial Property Insurance Solutions" description: "Expert commercial property insurance services covering compliant, reliable, and high-quality solutions tailored to your needs. SAC Code 997146." canonical: "https://busy.in/sac-code-997146/" --- # Commercial Property Insurance under SAC Code 997146 Part of [SAC 9971: Financial & related services](https://busy.in/sac-code-9971/). Commercial property insurance reinsurance services help insurers manage risks on large commercial, industrial and institutional properties by ceding a share of risk to reinsurers. This includes high value buildings, warehouses, plants and commercial complexes exposed to fire and other perils. Under GST, these commercial property reinsurance services are classified under SAC 997146. This SAC code and its GST rate decide how GST is applied on property reinsurance premiums and recoveries between insurers and reinsurers. ## 997146 SAC Code GST rate Reinsurance services under these SAC codes are treated as financial and insurance related services under GST. The taxable value usually covers reinsurance premium, any service fees and commission adjustments charged between insurers and reinsurers, whereas pure claim payouts under reinsurance contracts are treated separately as indemnity and not as service consideration. After the September 2025 rationalisation, most taxable insurance and reinsurance service components that are not specifically exempt are generally placed in the 18% slab with input tax credit for eligible registered recipients. Certain segments may follow special valuation or rate notifications, so insurers and reinsurers should review those conditions carefully before deciding the final GST treatment. **The table below explains the prevailing GST treatment for SAC code 997146, indicating the usual 18% slab for taxable reinsurance services and any notified exceptions that may apply.** | SAC code | Description | New GST rate (from 22 Sep 2025) | Old GST rate (till 21 Sep 2025) | Notes | | --- | --- | --- | --- | --- | | 997146 | Other property reinsurance services | 18% with ITC | 18% with ITC | Property reinsurance (fire, industrial, home etc.) remains under the standard 18% rate with ITC; there is no new GST relief specifically for these contracts in the 56th Council decisions. | Insurers and reinsurers using this SAC code should clearly show reinsurance premium value, GST rate in % and GST amount on tax invoices or reinsurance statements. The same SAC and rate should be mirrored in GSTR 1 and GSTR 3B so that input tax credit can be tracked correctly and GST positions remain defendable during audits. ## Practical classification guidance Insurers, reinsurers, advisory firms and brokers should select the SAC that best reflects their core service, such as life reinsurance, cargo reinsurance, non life reinsurance, M&A advisory or stock brokerage services. Correct SAC selection and GST rate application in % helps maintain a clear compliance trail, supports proper input tax credit and reduces the risk of disputes during GST scrutiny. ## Conclusion Commercial property insurance reinsurance services under SAC 997146 relate to reinsurance of large commercial and industrial property risks. Taxable reinsurance service values here generally fall in the 18% GST slab with input tax credit for registered entities. Insurers and reinsurers should use SAC 997146 on reinsurance documents, apply the right GST rate in %, disclose tax separately and mirror the same treatment in GSTR 1 and GSTR 3B. ## Frequently asked questions ### What is SAC code 997146 in GST for commercial property reinsurance? SAC 997146 covers reinsurance services for commercial property insurance risks. It relates to treaties where direct insurers pass part of their large commercial building, industrial premises or complex property portfolios to reinsurers to share risk. ### Does SAC 997146 cover reinsurance of commercial property insurance risks? Yes. When insurers reinsure big office complexes, factories, malls or other commercial properties, such arrangements usually fall under SAC 997146. The reinsurer receives reinsurance premium and pays a share of claims, lowering the exposure of the primary property insurer. ### What GST rate applies to services under SAC 997146? Reinsurance services under SAC 997146 are generally taxable at 18% under GST. The tax is applied on the reinsurance premium billed by the reinsurer to the ceding insurer. The reinsurance commission and settlement flows are handled as per GST rules on insurance services. ### Should insurers reinsuring large property portfolios use SAC 997146? Yes. Direct insurers who cede part of their commercial property risk to reinsurers should ensure those reinsurance contracts and invoices use SAC 997146. This keeps the classification separate from other non life reinsurance like motor or marine and helps in accurate GST reporting. ### Can reinsurance companies claim ITC on GST paid for SAC 997146 services? Reinsurers usually supply taxable services, so they can claim ITC on GST paid on their inputs and input services, subject to general conditions. For GST paid on inward reinsurance (retrocessions), similar credit treatment applies if such services support their taxable reinsurance business. ## 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/) - [997133: Accident Insurance](https://busy.in/sac-code-997133/) - [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/) - [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/)