SAC Code 997159: Insurance services (general, life, health)
SAC code 997159 classifies insurance services (general, life, health) under India's GST system. GST rate: 18%.
GST Rate Breakdown
- GST Rate: 18%
- CGST + SGST (intra-state): 9% + 9%
- IGST (inter-state): 18%
Rate reflects the GST 2.0 structure effective 22 September 2025 (slabs 0%, 5%, 18%, 40%). Some items vary by price or type, so confirm the current rate on the official GST portal before invoicing.
18% is India's standard GST rate applying to the majority of goods and services
18% is India's standard GST rate applying to the majority of goods and services. Insurance services (general, life, health) falls in this bucket. Full ITC available.
Sample Calculation for Insurance services (general, life, health)
- Taxable value: ₹10,000
- GST (18%): ₹1,800
- Intra-state: ₹900 CGST + ₹900 SGST
- Inter-state: ₹1,800 IGST
- Total: ₹11,800
When to Use SAC Code 997159
Use SAC code 997159 on every tax invoice for insurance services (general, life, health). Businesses above ₹5 crore turnover must use the full 6-digit code. E-invoicing requires HSN/SAC on every line item.
FAQs about SAC 997159
What is SAC code 997159?
SAC code 997159 classifies insurance services (general, life, health) under India's GST system. The applicable GST rate is 18%.
What is the GST rate for Insurance services (general, life, health)?
Insurance services (general, life, health) attracts 18% GST. For intra-state sales: 9% CGST + 9% SGST. For inter-state: 18% IGST.
Is Insurance services (general, life, health) exempt from GST?
No. Insurance services (general, life, health) attracts 18% GST on every taxable sale.