TMI BlogService Tax — Revenue refund under Head of Account 0044-Service TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... . under major head of account No. 037-Customs and 038-Union excise duties are equally authorised for collection and payment of refunds etc. under Head of Account No. 0044 - Service Tax. 2. The matter has been examined. The existing scheme as applicable to collection accounting of central excise, customs, and other dues and payment of refund, rebate and drawbacks etc. by the branches of Public ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onnection it is stated that the instructions contained in the revised Memorandum of instructions issued by the Reserve Bank of India for collection and accounting of Central Excise, Custom and other dues and payment of refund, rebate and drawbacks etc. by the branches of the Public Sector Banks will apply "mutatis mutandis" in respect of Service Tax as well. In this connection a copy of the RBI's ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Ministry of Finance, Department of Revenue for your information. The salient features thereof are briefly given below:- (i) Details of service tax sought to be levied and manner of collection Service Tax on services provided to :- (a) an investor by a stock broker in connection with the sale and purchase of securities. (b) a subscriber by the telegraph authority in relation to a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 038-UED. The specimen of challan to be used by the assessee is enclosed to the copy of notification. (iii) Head of Account The service tax so collected by the assessees will be credited to 0044- Service Tax. (iv) Reporting and Accounting System (a) The scheme of collection of service tax will be operated by Central Board of Excise Customs. (b) As stated above the banks presently nomina ..... X X X X Extracts X X X X X X X X Extracts X X X X
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