Services Under SAC Code 997155
Financial market services support the smooth running of exchanges and trading platforms through market operations, clearing support and administration. These services keep stock exchange operations, settlement processes and market administration functions stable for brokers and investors. Under GST, such financial market services are classified under SAC 997155. This SAC code and its GST rate decide how GST is charged on market operation fees and related financial market service charges.
Services GST Rate for SAC Code 997155
Portfolio, custody, financial market, consulting and foreign exchange related services under these SAC codes are treated as financial services under GST. The taxable value normally includes service fees, brokerage, management charges, advisory retainers and other consideration received from clients, while pure statutory levies collected at actuals for exchanges or regulators are kept outside the value if conditions are met.
After the September 2025 rationalisation, most taxable financial service components that are not specifically exempt are generally placed in the 18% slab with input tax credit for eligible registered clients. Certain capital market and forex transactions may be guided by special valuation rules or notifications, so these should be reviewed carefully before freezing the GST position.
The table below gives an overview of the current GST position for SAC code 997155, showing the typical 18% slab for financial market services and any exceptions that may apply to particular market operations.
| Code | Description | Old GST Rate (till 21 Sep 2025) |
New GST Rate (from 22 Sep 2025) |
Notes on change / inclusions |
|---|---|---|---|---|
| 997155 | Services related to the administration of financial markets | 18% with ITC | 18% with ITC | Financial auxiliary service under 9971. Market practice and rate tables show 18% as the standard rate; older 12% or Nil entries apply only to very specific sports events and do not affect regular financial market administration services. No change recommended by 56th Council for this SAC. |
Service providers using this SAC code should clearly show service value, GST rate in % and GST amount on tax invoices or statements. The same SAC and rate should be followed in GSTR 1 and GSTR 3B so that clients can book expenses correctly, claim input tax credit where eligible and remain comfortable during GST assessments.
Explore Other SAC Codes Under 9971
These SAC codes fall under the financial and insurance services group 9971, which covers banking, investment, insurance, reinsurance and capital market related activities. Each six digit SAC within this group points to a specific type of financial or market service for GST classification and reporting.
These are the main related six-digit SAC codes under 9971.
Banks, NBFCs, brokers and advisory firms should choose the SAC that best describes their core offering, whether it is portfolio management, custody, financial market operations, financial consulting or foreign exchange services. Using the correct SAC and GST rate in % makes billing transparent, supports proper input tax credit and reduces disputes during GST scrutiny.
Conclusion
Financial market services under SAC 997155 support the functioning of exchanges and trading platforms through operational and administrative activities. Market operation fees for these services are normally taxed at 18% with input tax credit for eligible registered entities. Market institutions should classify such services under SAC 997155, charge GST at the right rate in %, show GST clearly and keep GST returns consistent with this classification.
Important Disclaimer
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.