--- title: "Portfolio Management Services | Professional Portfolio Management Solutions" description: "Expert portfolio management services covering compliant, reliable, and high-quality solutions tailored to your needs. SAC Code 997153." canonical: "https://busy.in/sac-code-997153/" --- # Portfolio Management under SAC Code 997153 Part of [SAC 9971: Financial & related services](https://busy.in/sac-code-9971/). Marine reinsurance services provide support to insurers who cover ships, cargo and other marine related risks. The reinsurer shares the risk of large marine losses arising from storms, collisions or other sea related events. This allows primary insurers to offer higher limits and wider covers. Under GST, such marine reinsurance services are classified under SAC 997153. This SAC code and its GST treatment decide how GST is charged on marine reinsurance premiums. ## 997153 SAC Code GST rate Life and non life reinsurance services under these codes are treated as insurance support services under GST. The taxable value is generally the reinsurance premium received by the reinsurer from the primary insurer, net of any amounts that are clearly recorded as statutory levies. After the September 2025 rationalisation, regular taxable insurance and reinsurance premiums that are not covered by a special exemption are generally placed in the 18 % slab with input tax credit for eligible business policyholders. Selected life and health schemes or government notified programmes may continue to enjoy concessional or exempt treatment as per the latest GST notifications. **The table below explains the broad GST treatment for SAC code 997153, showing the standard 18 % slab for taxable premiums and any special cases where notified benefits apply.** | SAC code | Description | New GST rate (from 22 Sep 2025) | Old GST rate (till 21 Sep 2025) | Notes | | --- | --- | --- | --- | --- | | 997153 | Portfolio management services except pension funds | 18% with ITC | 18% with ITC | Discretionary and non-discretionary portfolio management for clients is still taxed at 18% with ITC, with no specific rate relief announced in September 2025. | Insurers, reinsurers and intermediaries using this SAC code should show premium, GST rate in %, GST amount and any other charges separately on documents and invoices. The same SAC and rate should be followed in GSTR 1 and GSTR 3B so that business customers can manage input tax credit properly and GST audits remain smooth. ## Practical classification guidance Insurers, reinsurers and financial institutions should map every product or contract to the most suitable SAC, checking whether the income is a taxable fee or premium or has any special treatment. Choosing the correct SAC and applying the right GST rate in % helps avoid disputes, supports clean input tax credit flow and makes GST returns easier to explain during assessments. ## Conclusion Marine reinsurance services under SAC 997153 support insurers dealing with marine hull and cargo risks. Reinsurance premiums for these contracts are usually taxable at 18 % with input tax credit for eligible businesses. Marine insurers and reinsurers should classify contracts under SAC 997153, apply the proper GST rate in %, present GST amounts clearly and keep GST returns aligned with the same treatment, especially for cross border placements. ## Frequently asked questions ### What does SAC code 997153 cover in GST? SAC 997153 covers wealth and investment portfolio management services. It includes discretionary portfolio management services and advisory investment management, where a manager makes or recommends investments on behalf of clients for a fee, often based on assets under management. ### Does SAC 997153 include wealth and investment portfolio management services? Yes. When a portfolio manager runs client portfolios, buys and sells securities for them, and charges management or performance fees, such services fall under SAC 997153. It applies to both individual and institutional portfolio management accounts operating under formal agreements. ### What GST rate applies to PMS fees under SAC 997153? Portfolio management service fees and charges classified under SAC 997153 are generally taxable at 18% under GST. GST is applied on management fees, advisory fees and performance linked fees. The value of the investment portfolio itself is not taxed, only the service component. ### Are performance and advisory fees billed using SAC 997153? Yes. Both fixed advisory fees and performance based fees linked to portfolio returns are billed under SAC 997153. PMS providers show GST on these fees in their invoices or statements, and clients pay the total amount including GST for the professional management services received. ### Can investors claim ITC on SAC 997153 services when PMS is for business funds? If the portfolio management is used for business related funds or treasury operations of a registered entity, ITC on GST paid may be available, subject to conditions. For personal investments by individuals, ITC is not allowed, since it is not an input for a taxable business supply. ## 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/) - [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/) - [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/)