With effect from July 1, 2012, for payment of service tax under negative list based approach, a new Minor Head – ‘All  taxable Services’ has been allotted as under
Name of Services Accounting codes
Tax collection Other Receipts (interest on delayed payment of service tax) Penalties Deduct refunds (for use by the Revenue/ Commissionerates  while allowing refund of tax)
All Taxable Services 00441089 00441090 00441093 00441094

All Taxable Services

The following may further be noted:

(i) service specific accounting codes will also continue to operate, side by side, for accounting of service tax pertaining to the past period (meaning, for the period prior to 01-07-2012);

(ii) primary education Cess on all taxable services will be booked under 00440298 and Secondary and Higher Education Cess on all taxable services will be booked under 00440426.

Circular No.161/12/2012 -ST, Dated- New Delhi, 6th July, 2012

Subject:  Accounting Code for payment of service tax under the Negative List approach to taxation of services, with effect from the first day of July 2012 – regarding.

Negative List based comprehensive approach to taxation of services came into effect from the first day of July, 2012. For payment of service tax under the new approach, a new Minor Head – ‘All taxable Services’ has been allotted under the Major Head “0044-Service Tax”.

2.  Accounting codes for the purpose of payment of service tax under the Negative List approach, with effect from 1st July, 2012 is as follows:

Name of Services

Accounting codes

Tax collection Other Receipts Penalties Deduct refunds
All Taxable Services 00441089 00441090 00441093 00441094

 NOTE:

(i) service specific accounting codes will  also continue to operate, side by side, for accounting of service tax  pertaining to the past period (meaning, for the period prior to 1st July, 2012);

(ii) Primary Education Cess on all taxable services will be booked under 00440298 and Secondary and Higher Education Cess on all taxable services will be booked under 00440426;

(iii) a new sub-head has been created for payment of “penalty”; the sub-head “other receipts” is meant only for payment of interest etc. leviable on delayed payment of service tax;

(iv) the sub-head “deduct refunds” is not to be used by the assessees, as it is meant for use by the Revenue/Commissionerates while allowing refund of tax.

3. Trade Notice/Public Notice may be issued to the field formations and tax payers. Please acknowledge the receipt of this Circular. Hindi version follows.

(S. Jayaprahasam)

Technical Officer

More Under Service Tax

0 Comments

  1. Govind M Suthar says:

    We are the Reg. dealer and pass on the cenvat to acutual user and also get commission from our Principal suppliers and paid the service tax on commission, we can get the service tax credit of Import service of Inputs such as container charges,handling charges, clearing and forwarding charges ,freight inward other related inputs service of bussiness.

  2. Nagesh says:

    If i have 2 or more service with different tax rate for e.i 4.944% & 12.36% than single payment is enough or separate payment to be made on each service? if ans is No. than. code is same why should i not made single payment on different calculation ?

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