SAC Code 997112 -- – Deposit services (GST Rate 18%)

SAC Code 997112

Deposit services

SAC997112

Deposit services

18%
IGST
CGST9%
SGST/UTGST9%
CessNil
Chapter: Chapter 99 -- Services
Heading: 9971
Subheading: 997112
Source: Notification No. 11/2017 - Central Tax (Rate) (services; 9/2025 reform did not change SAC slabs)
Effective from: 2017-07-01
Last verified: 2026-06-06

When does this rate apply?

Use this SAC Code on tax invoices when supplying Deposit services. GST is charged at 18% (IGST for inter-state, or CGST 9% + SGST 9% for intra-state). If the supply is exported under LUT, the rate is zero with no IGST charged.

This page is reviewed by CA Tirumalesh. For high-value or unusual transactions, confirm with the latest CBIC notification or consult a chartered accountant before invoicing.

Create an invoice with this code → See all items at 18% →

Related codes from Services

997111
Central banking services
18%
997113
Credit-granting services including stand-by commitment, guarantees & s
18%
997114
Financial leasing services
18%
997119
Other financial services (except investment banking, insurance service
18%
997120
Investment banking services
18%

Frequently asked questions

What is SAC Code 997112?
SAC Code 997112 is the official Service Accounting code for Deposit services, as per the CBIC GST rate schedule.
What is the GST rate for SAC Code 997112?
SAC Code 997112 attracts GST at 18% (IGST). For intra-state supplies, this is split as CGST 9% + SGST 9%. As per Notification No. 11/2017 - Central Tax (Rate) (services; 9/2025 reform did not change SAC slabs).
Which chapter does SAC Code 997112 belong to?
SAC Code 997112 falls under Chapter 99 -- Services of the GST tariff.
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