RESTORATION OF ACCOUNTING CODES FOR REGISTRATION

[Dr. Sanjiv Agarwal]

Vide Circular No. 165/16/2012-ST, dated 20.11.2012 and Notification No. 48/2012-ST, dated 30.11.2012, service specific accounting codes for the purpose of registration and payment of Service Tax under the Negative List approach have been restored. However, this is solely for the purpose of statistical analysis. It has been clarified that registrations obtained under the positive list approach continue to be valid. New taxpayers can obtain registrations by selecting the relevant description/s from among the list of 120 descriptions of services given in the Annexure of the said Circular. Where registrations have been obtained under the description 'All Taxable Services', the taxpayer should file amendment application online in ACES and opt for relevant description/s from the list of 120 descriptions of services given in the Annexure of the said Circular. If any applications for amendment of ST-1 are pending with field formations, seeking the description 'all taxable services', such amendment may not be necessary and the officers in the field formations may provide necessary guidance to the taxpayers in this regard.

The text of this Circular may be referred to in Annexure - 19(25) in part IV of the Book.

Vide CBEC Circular No. 165 dated 20.11.2012, service wise accounting codes have been restored for the purpose of statistical analysis. It has clarified that –

• Old service wise codes shall be used for registration and payment of Service Tax (also given in Annexure to Circular).
• There is a new sub-code for payment of penalty. Thus, payment of 'interest' will be made in code for 'other receipts' as was in use earlier.
• There is a sub-code for refunds which is for use only by the department.
• Old accounting codes which were in use prior to 1.7.2012 shall remain valid after 1.7.2012 also.
• New service providers who have obtained registration after 1.7.2012 under 'all taxable services' will have to get their registration certificate amended for obtaining registration under the respective category of service based on description of service.
• The amendment has to be done online in ACES system by choosing the most appropriate service from the list of 120 services (i.e., services from 1 to 119 or S.No. 120)
• In case the service is not getting classified under any specific entry of service (i.e. S..No. 1 to 119), the service provider should opt for residual entry, i.e., registration with the description [other taxable services (services other than 119 listed services)] with the following accounting code.

 Accounting                     Code

Service Tax                     00441480

Interest                           00441481     

Penalty                           00441485

 Not only this, Service Tax Rules have also been amended to give effect to need for change in registration vide Notification No. 48/2012-ST dated 30.11.2012 whereby registration has to be obtained / amended as per the description of service. Payment shall also be made accordingly.