26/05/2018
*Legal services provided by an Advocate or Firm of Advocates or an Arbitral Tribunal to any person other than a business entity or a business entity with a turnover of up to Rs.20 lakhs (Rs. 10 lakhs in special category states) is exempt from GST*.
*SAC Code & GST Rate for Accounting and Professional Services*
GST Council determines the GST rate for all services in India. GST rate for services fall under 0% or 5% or 12% or 18% or 28% slab. GST rate is fixed based on SAC code or services accounting code, a services classification system developed by the service tax department. In this article, we look at the SAC code and GST rate for legal, accounting and professional services in India. Professionals classified as taxable persons under GST must obtain GST registration.
*SAC code for accounting, auditing and bookkeeping services*
SAC Code 998221 – Financial auditing services
SAC Code 998222 – Accounting and bookkeeping services
SAC Code 998223 – Payroll services
SAC Code 998224 – Other similar services
*_GST rate for accounting, auditing and bookkeeping services is 18%_*
*Tax Consultancy and Preparation Services*
SAC code for tax consultancy and preparation are as follows:
SAC Code 998231 – Corporate tax consulting and preparation services
SAC Code 998232 – Individual tax preparation and planning services
*_GST rate for tax consultancy and preparation services is 18%_*
*Insolvency and Receivership Services*
SAC code for insolvency and receivership services are as follows:
SAC Code 998240 – Insolvency and receivership services
*_GST rate for insolvency and receivership services is 18%_*.
*Other Professional, Technical and Business Services*
SAC code for other professional, technical and business services are as follows:
SAC Code 998391 – Specialty design services including interior design, fashion design, industrial design and other specialty design services
SAC Code 998392 – Design originals
SAC Code 998393 – Scientific and technical consulting services
SAC Code 998394 – Original compilations of facts/information
SAC Code 998395 – Translation and interpretation services
SAC Code 998396 – Trademarks and franchises
SAC Code 998397 – Sponsorship Services & Brand Promotion Services
SAC Code 998399 – Other professional, technical and business services
*_18% GST rate is applicable for other professional, technical and business services_*.
*Legal Services*
SAC Code for legal services are as follows:
SAC Code 998211 – Legal advisory and representation services concerning criminal law.
SAC Code 998212 – Legal advisory and representation services concerning other fields of law.
SAC Code 998213 – Legal documentation and certification services concerning patents, copyrights and other intellectual property rights.
SAC Code 998214 – Legal documentation and certification services concerning other documents.
SAC Code 998215 – Arbitration and conciliation services
SAC Code 998216 – Other legal services
