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SAC code 9982 is specifically designated for legal and accounting services. This code encompasses a wide array of services delivered by professionals in the legal and accounting fields. It encompasses essential offerings such as legal advisory and representation services, as well as accounting, bookkeeping, auditing, and tax consultancy services.
The primary purpose of SAC code 9982 is to facilitate the systematic classification and identification of these specific services within the legal and accounting domain. By utilizing this code, it becomes easier to categorize and distinguish the various services provided by legal and accounting professionals. This classification aids in ensuring consistency and uniformity for regulatory, administrative, and compliance purposes.
Moreover, SAC code 9982 serves as a valuable tool for streamlining processes related to taxation, billing, and overall compliance within the legal and accounting sectors. It also facilitates the collection, analysis, and reporting of data for statistical and economic purposes, contributing to a better understanding of the legal and accounting landscape.
SAC Code 9982 under GST can be classified in the following ways:
| SAC Code | Description | Rates(%) |
|---|---|---|
| 9982 | Services provided by- (a) an arbitral tribunal to Ð (i) any person other than a business entity; or (ii) a business entity with an aggregate turnover up to twenty lakh rupees (ten lakh rupees in the case of special category states) in the preceding financial year; (b) a partnership firm of advocates or an individual as an advocate other than a senior advocate, by way of legal services to- (i) an advocate or partnership firm of advocates providing legal services; (ii) any person other than a business entity; or (iii) a business entity with an aggregate turnover up to twenty lakh rupees (ten lakh rupees in the case of special category states) in the preceding financial year; (c) a senior advocate by way of legal services to- (i) any person other than a business entity; or (ii) a business entity with an aggregate turnover up to twenty lakh rupees (ten lakh rupees in the case of special category states) in the preceding financial year. | Nil |
| 9982 | Services provided by an arbitral tribunal to “(iii) the Central Government, State Government, Union territory, local authority, Governmental Authority or Government Entity; | Nil |
| 9982 | Services provided by a partnership firm of advocates or an individual as an advocate other than a senior advocate, by way of legal services to“(iii) the Central Government, State Government, Union territory, local authority, Governmental Authority or Government Entity; | Nil |
| 9982 | Services provided by a senior advocate by way of legal services to“(iii) the Central Government, State Government, Union territory, local authority, Governmental Authority or Government Entity; | Nil |
| 998211 | Legal advisory and representation services concerning criminal law. | 18% |
| 998212 | Legal advisory and representation services concerning other fields of law. | 18% |
| 998213 | Legal documentation and certification services concerning patents, copyrights and other intellectual property rights. | 18% |
| 998214 | Legal documentation and certification services concerning other documents. | 18% |
| 998215 | Arbitration and conciliation services | 18% |
| 998216 | Other legal services n.e.c. | 18% |
| 998221 | Financial auditing services | 18% |
| 998222 | Accounting and bookkeeping services | 18% |
| 998223 | Payroll services | 18% |
| 998224 | Other similar services n.e.c | 18% |
| 998231 | Corporate tax consulting and preparation services | 18% |
| 998232 | Individual tax preparation and planning services | 18% |
| 998240 | Insolvency and receivership services | 18% |
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.
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