Short answer. The SAC code on a mutual fund distributor's commission invoice is 997152. It is the code for brokerage and related services for securities, under heading 9971, financial and related services. The GST rate is 18%. The code goes on every invoice and in the HSN summary of your GSTR-1.
Heading 9971 is financial and related services. Group 99715 covers services auxiliary to financial services. Code 997152 is brokerage and related securities and commodities services. Distribution of mutual fund units on commission sits here, and the invoices prepared through the registrar files carry this code.
| Code | What it is for | Use it for MFD commission? |
|---|---|---|
| 997152 | Brokerage and related securities and commodities services | Yes. This is the one. |
| 997159 | Other services auxiliary to financial services, not covered elsewhere | No. It is the leftover bucket, used when no specific code fits. A specific code fits here. |
| 997164 | Pension fund management services | No. A different service. It appears in some blogs by mistake. |
Upload your own registrar file and see one of your AMC invoices signed, with 997152 on it. No signup, no card.
Try with your file, freeYes. 9% CGST plus 9% SGST when the AMC is in your state, or 18% IGST when it is not.
No. Neither upload sheet has a column for it. It is printed on the invoice PDF.
A registered sub-broker invoicing a distributor for a commission share is also supplying brokerage services, so the same code applies. Confirm with your CA.
SAC. Services use SAC codes under chapter 99. Goods use HSN codes. On the GST portal both sit in the same HSN summary table.