Learn the full form of SAC (Service Accounting Code) in GST, its meaning, and definition in simple terms. Understand how SAC codes help classify and apply tax to services. What is the SAC code? (Services Accounting Code), is a classification system developed by the GST Department of India for all services. It plays a crucial role in fixing GST rates on services, categorizing them into five slabs of 0%, 5%, 12%, 18%, and 28%. Services Accounting Code (SAC) helps to sort out a wide array of services under the goods and services tax (GST) law. All transactions with regards to GST taxes levied on various goods and services in India are basically categorized in the Services Accounting Code (SAC). SAC Full Form and Definition SAC (Services Accounting Code) is a unique code used to classify services under the Goods and Services Tax (GST) system in India. Each service is assigned a specific SAC code, which helps in identifying and categorizing services for taxation purposes.
