Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TDS :: VAT Audit :: empanelment :: form 3cd :: articles on VAT and GST in India :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT RATES :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: due date for vat payment
 
 
« Latest Circulars »
 Master Direction - Reserve Bank of India (Financial Statements of All India Financial Institutions - Presentation, Disclosure and Reporting) Directions, 2016
 RBI publishes “Payment and Settlement Systems in India: Vision-2018”
 Resolving Stress in the Banking System and Restoring Credit Growth Vital to Growth Agenda: RBI Governor
 Foreign Exchange Market & Cross-border Transactions: Some Random Reflections (Shri Harun R Khan, Deputy Governor - June 11, 2016 - at the 11th Annual Conference of the Foreign Exchange Dealers Association of India (FEDAI), Hong Kong)
 RBI Governor terms MPC A Revolutionary Step in Fight against Inflation
 RBI releases Governor's message to staff for wider dissemination
 RBI decides to simplify and rationalise the process of registration of new NBFCs
  Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2015-16
 Developments in India’s Balance of Payments during the Fourth Quarter (January-March) of 2015-16
 RBI-Monitoring of Foreign Investment under the PIS in Indian Companies - Removal from the Caution List- FIIs/RFPIs: M/s Carborundum Universal Ltd.
 RBI releases the Monthly Bulletin for June 2016

Regarding 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
July, 07th 2012

Circular No.161/12/2012 -ST

F.No.341/21/2012-TRU

Government of India

Ministry of Finance

Department of Revenue

Central Board of Excise & Customs

Tax Research Unit

153, North Block,

New Delhi, 6th July, 2012

To

Chief Commissioners of Customs and Central Excise (All),

Chief Commissioners of Central Excise & Service Tax (All),

Director General (Service Tax), Director General(Systems), Director General (Central Excise Intelligence),  Director General (Audit),

Commissioners of Service Tax (All),

Commissioners of Central Excise (All) &

Commissioners of Central Excise and Customs (All).

 

Madam/Sir,

 

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

Tel: 011-23092037

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions