Accounting Under SAC Code 998222

Accounting services focus on day to day recording, classification and reporting of business transactions. Service providers help maintain books of account, prepare ledgers, post entries and support basic GST accounting and financial reporting. Many MSMEs depend on external accountants for regular bookkeeping instead of hiring full time staff. Under GST, such accounting services are classified under SAC 998222. This SAC code and its GST rate decide how GST is charged on accounting and bookkeeping service invoices.

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998222 SAC Code GST Rate

Review old and new GST rates for Accounting under 998222 SAC Code.

Accounting, payroll and business support services under these SAC codes are treated as professional services under GST. The taxable value usually includes service fees, monthly retainers and processing charges, excluding any government fees or statutory payments that are collected from clients and paid to authorities at actuals.

After the September 2025 rationalisation, most taxable accounting and business support services that are not specifically exempt are generally placed in the 18% slab with input tax credit for registered business clients. Any special schemes or reverse charge situations notified for particular recipients should be reviewed carefully before finalising how GST will be charged.

The table below summarises the prevailing GST treatment for SAC code 998222, showing the standard 18% slab for taxable accounting and business support services and any notified special cases.

SAC Code

998222

Description

Accounting and bookkeeping services

New Rate

18 %
Standard

Old Rate

18 %

Notes

Consistently shown at 18% GST in multiple SAC-wise charts and CA-specific guidance notes. The new 5% / 18% / 40% structure keeps these services in the 18% bucket.

Accounting firms and service providers using this SAC code should clearly mention their service value, GST rate in % and GST amount on tax invoices. The same SAC and rate should be followed in GSTR 1 and GSTR 3B so that clients can book expenses correctly and claim input tax credit without confusion.

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Practical Classification Guidance

Law firms, CA firms and business service providers should select the SAC that best describes their main engagement, such as accounting services, payroll services, business support services or corporate and personal tax consulting. Correct SAC selection and GST rate application in % make it easier for clients to book expenses, claim input tax credit where allowed and handle GST queries or audits confidently.

Conclusion

Accounting services under SAC 998222 cover routine bookkeeping, ledger posting and basic financial reporting for businesses that outsource their accounts. These services are generally taxable at 18% with input tax credit for registered clients. Service providers should classify their work under SAC 998222, apply the correct GST rate in %, show GST clearly on invoices and keep the same treatment in GST returns so that clients can support their input tax credit during assessments.

Frequently Asked Questions

Clear answers to common queries about SAC Code 998222 and GST compliance.

What is SAC code 998222 in GST?

SAC 998222 covers accounting, bookkeeping, GST accounting and related financial record keeping services. It includes maintaining ledgers, preparing trial balance, assisting in financial statements, reconciling books with bank statements and keeping GST records for businesses that outsource these tasks to accountants, firms or service providers.

Does SAC 998222 cover accounting, bookkeeping and GST accounting services?

Yes. Routine bookkeeping, voucher posting, preparation of management accounts, GST ledger maintenance and day to day financial record support are normally classified under SAC 998222. It applies whether services are provided by independent accountants, small firms or larger shared service centres handling books for multiple client businesses.

What GST rate applies to accounting services under SAC 998222?

Accounting and bookkeeping services under SAC 998222 are generally taxed at 18%. GST is charged on monthly retainers, project fees or hourly charges. Providers must issue proper tax invoices mentioning SAC code, and clients should ensure correct GST registration details for claiming input tax credit where eligible.

Should monthly bookkeeping retainers use SAC 998222?

Yes. When businesses sign monthly or yearly retainers for bookkeeping, GST accounting or basic financial accounting support, invoices should normally mention SAC 998222. This clearly separates accounting services from audit, tax consulting or management consulting which are reported under different SAC codes in GST returns and records.

Is ITC available on GST paid for SAC 998222 services?

Registered businesses can usually claim ITC on GST paid for SAC 998222 services because maintaining books is directly linked to running taxable operations and staying compliant. If accounting is only for exempt activities or purely personal records, ITC is not allowed. Proper linkage to business activities is essential.

Important Disclaimer

The above does not constitute professional advice or a formal recommendation. We recommend consulting a professional tax consultant before acting on the information contained in this piece of content.