My client doing oil extraction business..
supplier send Rice Bran
we have rocess and extract to rice bran oil.
now the SAC and Tax % Required.
thanks in advance
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SAC code and Tax Rate for Rice bran oil extract
Replies (2)
The SAC (Service Accounting Code) for oil extraction services is 998541. As for the tax percentage, it depends on the type of oil extraction and the state in which the business is located. In general, oil extraction services are taxed under the GST (Goods and Services Tax) regime in India, with a tax rate of 18% for most services. However, certain types of oil extraction services may be eligible for lower tax rates or exemptions.
We doing the bran oil extraction service only hence the rate of Tax ?
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