Financial services (except investment banking, insurance services and pension services)
Services Code / Classification (SAC)
GST
Scheme of Classification of Services
S.No.
Chapter, Section, Heading or Group
Service Code (Tariff)
Service Description
(1)
(2)
(3)
(4)
176
Group 99711
Financial services (except investment banking, insurance services and pension services)
177
997111
Central banking services
178
997112
Deposit services
179
997113
Credit-granting services including stand-by commitment, guarantees and securities
180
997114
Financial leasing services
181
997119
Other financial services (except investment banking, insuran
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e authority of the central bank, including currency design and production, issuing, distribution and replacement
– fiscal agency services including advisory services to the government on matters relating to the public debt, issuing debt instruments, maintaining bondholder records and making interest and redemption payments on behalf of the government
– supervisory activities with regard to banks and/or non-banks if undertaken by the central bank
– other central banking services n.e.c.
997112 – Deposit services
This service code includes:
– demand, notice and term deposit services
– administration of bank accounts
– chequing services such as certification of cheques, exchanging cheques or withdrawal slips for money, remitting
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mple, banks and insurance companies.
– granting of loans for which the land or buildings are used as security
– home equity loans
– granting of personal non-mortgage installment loans with scheduled repayment plans
– line-of-credit loan services, that is, loan services based on a commitment to lend funds to a borrower up to a specified amount
– consumer loan services, that is, loan services extended for financing consumer purchases of goods or services where the purchased good is generally used as collateral
– granting credit when the holder of a credit card uses it to buy a good or a service, regardless of whether the balance is paid in full at the end of the grace period
– granting loans to investment dealers and brokers, re
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