SAC code
SAC code for market research: 998371
Market research is classified under SAC 998371, “Market research services”. Billed to a client abroad, it is usually an export: zero-rated, and listed on your monthly EDF.
Checked against the rules on 6 October 2026
The code
- SAC code: 998371
- Description: Market research services
- Heading: 9983, Other professional, technical and business services
- GST in India: 18% (9% CGST and 9% SGST, or 18% IGST).
- On an export: zero-rated; under an LUT, no IGST on the invoice.
What 998371 covers
- Surveys and consumer research.
- Competitor and market studies.
- Data collection and analysis for a research brief.
When it is a different code
| Code | Description | Use it when |
|---|---|---|
| 998311 | Management consulting and management services | you are advising on strategy rather than delivering research |
On an export invoice
An example: Kestrel Insight Ltd, a client in United Kingdom, is billed in GBP on 15 October 2026 under an LUT.
| Description | SAC | Quantity | Rate | Amount |
|---|---|---|---|---|
| India market entry study, phase 1 | 998371 | 1 project | £4,000.00 | £4,000.00 |
| IGST at 0%, export under LUT | £0.00 | |||
| Total | £4,000.00 |
The invoice also carries the client's country, your LUT reference and the endorsement “Supply meant for export under letter of undertaking without payment of integrated tax”. The client and figures are made up.
On the monthly EDF
| On the EDF | For this invoice |
|---|---|
| Buyer and country | Kestrel Insight Ltd, United Kingdom |
| Service and SAC | India market entry study, phase 1 · 998371 |
| Currency and value | £4,000.00 |
| Value in rupees | At the exchange rate on the invoice |
Raised in October 2026, it goes on October's EDF, due at your bank by 30 November 2026. The payment has to reach India by 15 July 2027.
Worth knowing
- Research about the Indian market for a client abroad can still be an export. For most services, the place of supply follows where the client is, not what the research is about.
- On GST invoices, a business with turnover above ₹5 crore shows all six digits; up to ₹5 crore, at least four on invoices to businesses. The EDF asks for the SAC on every line, so use the full code.
Questions people ask
- What is the SAC code for market research?
- 998371: Market research services. It sits under heading 9983, other professional, technical and business services.
- Is GST charged on market research for a foreign client?
- Not when it is an export. If all five conditions are met, the service is zero-rated, and under an LUT the invoice carries no IGST. For a client in India, GST is 18%.
- Is market research on India for a foreign client an export?
- Generally yes, when the five conditions are met: the place of supply for market research follows the client’s location. See the five conditions.
Related
- SAC code for management consulting998311: Management consulting and management services
- SAC code for software development998314: Information technology (IT) design and development services
- SAC code for website design and development998314: Information technology (IT) design and development services
- Export Declaration Form (EDF) for servicesFrom 1 October 2026 every Indian exporter of services, freelancers included, files one EDF a month with their AD bank.
- When is a service an export under GST? The five conditionsA service counts as an export, and is zero-rated, only if all five conditions in section 2(6) of the IGST Act are met.
This page explains the rules in general. It is not tax or legal advice for your business; check anything you act on with your CA.