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of <h1>New 1% Education Cess Introduced on Excisable, Imported Goods, and Services; Temporary Accounting Under RAT Sub-Head.</h1> A new 'Secondary and Higher Education Cess' at 1% has been introduced on all excisable goods, imported goods, and taxable services as per the Union Budget 2007. Due to the delay in opening new Heads of Accounts by the CGA's office, collections will be temporarily accounted under the 'Receipts Awaiting Transfer' (RAT) sub-head/minor head of accounts under Major Heads 0037 (Customs), 0038 (Union Excise Duty), and 0044 (Service Tax). The amount will be transferred to the new Head of Account once established. Trade associations are requested to inform their members accordingly.
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