Sac full form: What is a Service Accounting Code (SAC)

What is a Service Accounting Code (SAC)? The Service Accounting Code (SAC) is a classification system issued by the Central Board of Indirect Taxes and Customs (CBIC) to categorize and identify different types of services. Similar to the HSN code used for goods, each service has a unique SAC code. 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. 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). 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%.