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SAC code 9995 is exclusively designated for the service category of “Membership Organization Services.” This code plays a crucial role in accurately classifying and categorizing the services provided by membership organizations for the purpose of GST registration and compliance. It enables a systematic and streamlined approach to determine the applicable tax rates for these services.
Membership organizations are entities that bring together individuals or businesses with shared interests, objectives, or affiliations. They provide a variety of services to their members, such as networking opportunities, educational programs, advocacy, certifications, publications, and other benefits. SAC code 9995 is specifically designed to capture and categorize these services within the GST framework.
By utilizing SAC code 9995, membership organizations and regulatory bodies can effectively classify and track the services provided by these organizations. It helps in determining the appropriate tax rates and facilitates compliance with GST regulations. This accurate classification also ensures transparency and clarity for both the organizations and their members regarding the taxation of these services.
SAC Code 9995 under GST can be classified in the following ways:
| SAC Code | Description | Rates(%) |
|---|---|---|
| 9995 | Service by an unincorporated body or a nonprofit entity registered under any law for the time being in force, to its own members by way of reimbursement of charges or share of contribution Ð (a) as a trade union; (b) for the provision of carrying out any activity which is exempt from the levy of Goods and service Tax; or (c) up to an amount of 5000 rupees (7500 substituted from 25/01/2017)per month per member for sourcing of goods or services from a third person for the common use of its members in a housing society or a residential complex. | Nil |
| 9995 | Services provided by an unincorporated body or a non-profit entity registered under any law for the time being in force, engaged in,- (i) activities relating to the welfare of industrial or agricultural labour or farmers; or (ii) promotion of trade, commerce, industry, agriculture, art, science, literature, culture, sports, education, social welfare, charitable activities and protection of environment, to its own members against consideration in the form of membership fee upto an amount of one thousand rupees (Rs 1000/-) per member per year. | Nil |
| 999511 | Services furnished by business and employers organizations | 18% |
| 999512 | Services furnished by professional organizations | 18% |
| 999520 | Services furnished by trade unions | 18% |
| 999591 | Religious services | 18% |
| 999592 | Services furnished by political organizations | 18% |
| 999593 | Services furnished by human rights organizations | 18% |
| 999594 | Cultural and recreational associations | 18% |
| 999595 | Services furnished by environmental advocacy groups | 18% |
| 999596 | Services provided by youth associations | 18% |
| 999597 | Other civic and social organizations | 18% |
| 999598 | Homeowners associations | 18% |
| 999599 | Services provided by other membership organizations n.e.c. | 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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BUSY is a simple, yet powerful GST / VAT compliant Business Accounting Software that has everything you need to grow your business.