SUPPORTING SERVICES TRANSPORT - GST RATES SAC CODE 9967

Are you a business owner who deals with transportation services?

If yes, then you must be aware of the recent changes in GST rates and SAC codes for supporting services in transport. In this article, we will discuss everything you need to know about these changes.

Firstly, let's understand what supporting services in transport mean.

These services include packaging, loading, unloading, storage, warehousing, and transportation of goods. These services are essential for the smooth functioning of the transportation industry.

Now, coming to GST rates and SAC codes for supporting services in transport.The GST council has recently revised the rates and codes for these services.

The new rates and codes are as follows:-

1. GST rate for transportation of goods by road has been reduced from 18% to 12%.

2. GST rate for transportation of goods by air, rail, or vessel has been reduced from 18% to 5%.

3. SAC code for transportation of goods by road is 996742.

4. SAC code for transportation of goods by air, rail, or vessel is 996743.

5. SAC code for other supporting services in transport is 996749.

These changes have come as a relief for businesses dealing with transportation services. The reduction in GST rates will lead to a decrease in the cost of transportation services, which will benefit both businesses and consumers.However, it is important to note that the revised rates and codes are applicable only to supporting services in transport. The GST rates and codes for other services remain unchanged.

Conclusion:

In conclusion, the recent changes in GST rates and SAC codes for supporting services in transport are a welcome move for businesses in the transportation industry. It is important for businesses to stay updated with these changes to avoid any confusion or penalties. The GST council has recently revised the rates and codes for supporting services in transport. The new rates and codes are applicable to transportation of goods by road, air, rail, or vessel and other supporting services in transport. The article discusses these changes in detail and their impact on businesses dealing with transportation services.BusinessGST