What SAC Codes may be used by Practising Company Secretaries?

What SAC Codes may be used by Practising Company Secretaries?: Under the GST regime, there is no code for service provider but codes are in accordance to the services provided. GST is one such epoch-making transformation, which would inscribe the testimony of the emerging and progressive New India with utmost welfare to its populace at equity and equality. Now Check SAC Code for CS Services in GST Regime from below…..

Currently, with the successful launch of this key tax reform, now is the time for the rightly spirited application of the varied provisions of Goods and Services Tax pan India to ensure that the directed value for this unified tax reform should reach to the farthest areas of the country and to each and every single stakeholder of the tax structure of the Nation.

The following is a list of few services provided by Practicing Company Secretaries and their SAC Codes may be used, as follows:

Heading no. 9982   Legal and accounting services
Group 99821    
  998211 Legal advisory and representation services concerning criminal law
  998212 Legal advisory and representation services concerning other fields of law.
  998213 Legal documentation and certification services concerning patents, copyrights and other intellectual property rights.
  998214 Legal documentation and certification services concerning other documents.
  998215 Arbitration and conciliation services
  998216 Other legal services n.e.c.
Group 99822   Accounting, auditing and bookkeeping services
  998221 Financial auditing services
  998222 Accounting and bookkeeping services
  998223 Payroll services
  998224 Other similar services n.e.c
Group 99823   Tax consultancy and preparation services
  998231 Corporate tax consulting and preparation services
  998232 Individual tax preparation and planning services
Group 99824   Insolvency and receivership services
  998240 Insolvency and receivership services
  998399 Other professional, technical and business services n.e.c.
Group 99715   Services auxiliary to financial services (other than to insurance and pensions)
  997151 Services related to investment banking such as mergers and acquisition services corporate finance and venture capital services
  997156 Financial consultancy services
  997159 Other services auxiliary to financial services
Group 99951   Services furnished by business, employers and professional organisations Services
  999511 Services furnished by business and employers organisations
  999512 Services furnished by professional organisations
Heading 9983   Other professional, technical and business services
Group 99831   Management consulting and management services; information technology services
  998311 Management consulting and management services including financial, strategic, human resources, marketing, operations and supply chain management
  998312 Business consulting services including public relations services
  998313 Information technology consulting and support services

What all returns does a practicing Company Secretary needs to furnish under GST?

A registered taxable person needs to file following return under GST regime

Form Type Timeline
GSTR-1 Outward Supply of taxable services Within 10th of next month
GSTR-2 Inward Supply of taxable services After the 10th day but on or before the 15th day of the month succeeding the tax period
GSTR-3 Monthly return On or before the 20th day of the month succeeding such calendar month or part thereof
GSTR-9 Annual return On or before the 31st day of December following the end of such financial year.

With the objective of ensuring smooth rollout of GST and taking into account the concerns expressed by the trade and industry regarding filing of the returns in GST regime, it has been decided that, for the first two months of GST implementation, the tax would be payable based on a simple return (Form GSTR-3B) containing summary of outward and inward supplies which will be submitted before 20th of the succeeding month. However, the invoice-wise details in regular GSTR-1 would have to be filed for the months of July and August, 2017 as per the timelines given below –

Month GST- 3B GSTR-1 GSTR-2 (Auto populated from GSTR-1)
July 20th August 1th-5th September* 6th – 10th September
August 20th September 16th – 20th September 21st-25th September

Facility for uploading of outward supplies for July, 2017 will be available from 15th July, 2017

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