--- title: "Financial Market Services | Professional Financial Market Solutions" description: "Expert financial market services covering compliant, reliable, and high-quality solutions tailored to your needs. SAC Code 997155." canonical: "https://busy.in/sac-code-997155/" --- # Financial Market under SAC Code 997155 Part of [SAC 9971: Financial & related services](https://busy.in/sac-code-9971/). 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. ## 997155 SAC Code GST rate 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.** | SAC code | Description | New GST rate (from 22 Sep 2025) | Old GST rate (till 21 Sep 2025) | Notes | | --- | --- | --- | --- | --- | | 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. ## Practical classification guidance 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. ## Frequently asked questions ### What does SAC code 997155 cover in GST? SAC 997155 covers stock exchange operations, clearing and settlement, trade facilitation and related market administration services. It applies to services provided by exchanges, clearing corporations and similar market institutions that run trading platforms, manage risk, handle settlements and maintain the overall market infrastructure for participants. ### Does SAC 997155 include stock exchange operations and market administration services? Yes. Running the trading system, providing order matching, clearing and settlement, risk management, market surveillance and other administration activities offered by exchanges and clearing houses are covered under SAC 997155. These services support brokers, members and listed companies in carrying out trades in a regulated market. ### What GST rate applies to exchange and clearing fees under SAC 997155? Exchange, clearing and related market infrastructure fees under SAC 997155 are usually taxed at the standard GST rate, currently 18%, unless a specific notification provides otherwise. GST is charged on the service fee portion billed to members or intermediaries and is separate from securities transaction taxes. ### Are listing and market infrastructure charges billed using SAC 997155? Yes. Listing fees, annual charges and market infrastructure levies billed by exchanges to listed companies or members are generally classified under SAC 997155. These are treated as taxable services, and GST is applied on the charged amount, subject to normal GST rules and any special exemptions. ### Is ITC available on GST paid for SAC 997155 to registered members? Registered brokers, intermediaries and other members using exchange and clearing services for their taxable business can usually claim input tax credit on GST charged under SAC 997155. They must keep proper GST invoices and ensure the services are used in connection with their taxable or zero rated supplies. ## 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/) - [997153: Portfolio Management](https://busy.in/sac-code-997153/) - [997154: Custody](https://busy.in/sac-code-997154/) - [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/)