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

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