Service
tax payer who is liable to pay Service Tax
monthly & quarterly should
pay Service Tax under New Category & Code
only.
As you are aware, Negative List based comprehensive approach to taxation of
services has came into effect from the 1st July, 2012 and accordingly
now for payment of
Service Tax a new Minor Head – ‘All Taxable
Services’ has been allotted under the Major Head
“0044-Service Tax”.
A new
Accounting code 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
|
Primary Education
Cess on all taxable services will be booked under
00440298
Secondary and Higher Education
Cess on all taxable services will be booked under
00440426
NOTE:-
1. All Payment of
service tax For the Period starting from 01.07.2012 is
required to be made under above code only irrespective of the category of
service.
2. However Service specific
accounting codes will also continue to operate, side
by side, for payment of service
tax pertaining to the past period (for the period prior
to 1st July, 2012).
Payment of Service Tax Under New Accounting Code Only
Service tax payer who is liable to pay Service Tax monthly & quarterly should pay Service Tax under New Category & Code only.
As you are aware, Negative List based comprehensive approach to taxation of services has came into effect from the 1st July, 2012 and accordingly now for payment of Service Tax a new Minor Head – ‘All Taxable Services’ has been allotted under the Major Head “0044-Service Tax”.
NOTE:-
1. All Payment of service tax For the Period starting from 01.07.2012 is required to be made under above code only irrespective of the category of service.
2. However Service specific accounting codes will also continue to operate, side by side, for payment of service tax pertaining to the past period (for the period prior to 1st July, 2012).
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