6 digits SAC in case of banking co.

This query is : Resolved

Krishna (Querist)
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18 February 2022 Gst on interest received by bank is exempted as per notification.
From 1st apr 21; 6 digits SAC code to be mentioned in GSTR1 incase of taxable person having T/o of more than 5 cr.
But as per notification SAC code for interest received by bank is 9971 i.e. 4 digits ..
From where i will get 6 digit SAC code or what is the 6 digit code ??
plz reply

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 March 2022 Services under Heading 9971 - Financial And Related Services with 6 digit code

99711 - Financial services (except investment banking, insurance services and pension services)
997111 - Central banking services
997112 - Deposit services
997113 - Credit-granting services including stand-by commitment, guarantees & securities
997114 - Financial leasing services
997119 - Other financial services (except investment banking, insurance services and pension services)
99712 - Investment banking services
997120 - Investment banking services
99713 - Insurance and pension services (excluding reinsurance services)
997131 - pension services
997132 - Life insurance services (excluding reinsurance services)
997133 - Accident and health insurance services
997134 - Motor vehicle insurance services
997135 - Marine, aviation, and other transport insurance services
997136 - Freight insurance services & Travel insurance services
997137 - Other property insurance services
997139 - Other non-life insurance services (excluding reinsurance services)
99714 - Reinsurance services
997141 - Life reinsurance services
997142 - Accident and health reinsurance services
997143 - Motor vehicle reinsurance services
997144 - Marine, aviation and other transport reinsurance ser
997145 - services
997146 - Freight reinsurance services
997147 - Other property reinsurance services
997149 - Other non-life reinsurance services
99715 - Services auxiliary to financial services (other than to insurance and pensions)
997151 - Services related to investment banking such as mergers & acquisition services, corporate finance & venture capital services
997152 - Brokerage and related securities and commodities services including commodity exchange services
997153 - Portfolio management services except pension funds
997154 - Trust and custody services
997155 - Services related to the administration of financial markets
997156 - Financial consultancy services
997157 - Foreign exchange services
997158 - Financial transactions processing and clearing house services
997159 - Other services auxiliary to financial services
99716 - Services auxiliary to insurance and pensions
997161 - Insurance brokerage and agency services
997162 - Insurance claims adjustment services
997163 - Actuarial services
997164 - Pension fund management services
997169 - Other services auxiliary to insurance and pensions
99717 - Services of holding financial assets
997171 - Services of holding equity of subsidiary companies
997172 - Services of holding securities and other assets of trusts and funds and similar financial entities