SAC Code 997111 -- – Central banking services (GST Rate 18%)

SAC Code 997111

Central banking services

SAC997111

Central banking services

18%
IGST
CGST9%
SGST/UTGST9%
CessNil
Chapter: Chapter 99 -- Services
Heading: 9971
Subheading: 997111
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 Central banking 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

997112
Deposit 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 997111?
SAC Code 997111 is the official Service Accounting code for Central banking services, as per the CBIC GST rate schedule.
What is the GST rate for SAC Code 997111?
SAC Code 997111 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 997111 belong to?
SAC Code 997111 falls under Chapter 99 -- Services of the GST tariff.
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