How to account for SAC 997338 in books?

When purchasing: Debit Rent (6000), Credit Bank/Payable. When selling: Debit Receivable, Credit Rental Income (4400). GST is booked to ITC (purchase) or Output Payable (sale) accounts.

Is Reverse Charge (RCM) applicable on SAC 997338?

Yes. SAC 997338 (Leasing/rental of goods with operator) is subject to Reverse Charge Mechanism under Section 9(3) of the CGST Act. The recipient must pay GST instead of the supplier.

SAC Code 997338 — Licensing services for right to use other natural resources including telecommunication spectrum — 18% GST

Q: What is the GST rate for SAC Code 997338?

SAC Code 997338 (Licensing services for right to use other natural resources including telecommunication spectrum) attracts 18% GST. For intra-state supply: 9% CGST + 9% SGST. For inter-state: 18% IGST.

About SAC Code 997338

SAC Code 997338 covers Licensing services for right to use other natural resources including telecommunication spectrum and attracts a GST rate of 18%. For intra-state supplies, this is split as 9% CGST + 9% SGST. For inter-state supplies, 18% IGST is charged. This code falls under the Services sector (Professional, IT, logistics, hospitality).

How to Use SAC Code 997338 on GST Invoices

Include the SAC code 997338 on every GST invoice for licensing services for right to use other natural resources including telecommunication spectrum
Businesses with turnover above ₹5 crore must use 6-digit SAC codes
Turnover between ₹1.5–5 crore: 4-digit codes are sufficient
The SAC code must match the product/service description on your invoice
Incorrect SAC codes can lead to GST notices and ITC mismatches

Related SAC Codes

997311 — Leasing or rental services concerning transport equipments including containers, without operator
997312 — Leasing or rental services concerning agricultural machinery and equipment without operator
997313 — Leasing or rental services concerning construction machinery and equipment without operator
997314 — Leasing or rental services concerning office machinery and equipment (except computers) without operator
997315 — Leasing or rental services concerning computers without operators

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Last verified: 2026-06-26 · Source: CBIC Master Tariff

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