Services Accounting Code or SAC is a term used under the GST law to identify, classify and define services. The GST panel have already defined services under the service tax law and it is expected the same for most of the part. For instance, there are codes provided to various services like the telephone service, advertising service and so on.
GST, a unified tax regime for indirect taxes. This is perhaps the biggest tax reform in the regime of indirect taxes as it succeeds a number of indirect taxes that are applicable under the current regime.
The taxation framework in India is about to experience a radical shift once the GST (Goods and Services Tax) system takes over.
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