New Accounting Code for the purpose of Accounting of collection of Service Tax

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..... ounting system, separate Minor Head is opened for each taxable services under major head "0044 - Service Tax" with 3 sub-heads for accounting of : (a) Tax Collection, (b) Other Receipts (like penalty/interest) and (c) Refunds. But, under proposed negative list based comprehensive approach to taxation of services, it is not practically possible to use service-wise accounting code numbers. All c .....

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..... viable on delayed payment of service tax. **The Sub Head "Deduct Refunds" is not to be used by the assessees, as it is meant for the Excise Deptt. while allowing refund to tax. B. Primary Education Cess on all taxable services will be booked under 00440298 and Secondary and Higher Education Cess will be booked under 00440426. C. Service Tax in respect of all services pertaining to the perio .....

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