Insurance HSN Code
For insurance services, the classification falls under the Service Accounting Codes (SAC) rather than the Harmonized System (HSN) code, as insurance pertains to services. Here are the SAC codes for various types of insurance services:
- 9971: Financial and related services
- 99713: Insurance and pension services (including reinsurance services, except compulsory social security)
Within this category, the specific SAC codes for different insurance services include:
- 997131: Life insurance services
- 997132: Health insurance services
- 997133: Motor vehicle insurance services
- 997134: Marine, aviation, and other transport insurance services
- 997135: Reinsurance services
- 997136: Other insurance services (e.g., property, liability)
These SAC codes are used for identifying and categorizing insurance services under the GST regime in India.
