Service Tax expansion: six specified services added to the tax net with dedicated accounting heads and codes. Six services were added to the Service Tax net effective 16-5-2008 and new accounting heads were opened under Major Head 0044 with assigned eight digit reduced accounting codes plus SCCD and serial codes. The services include IT software for business, ULIP investment management, recognized stock exchange services, recognized/registered association services for goods/forward contracts, processing and clearing house services, and supply of tangible goods for use without transfer of possession. Administrative instructions call for communication of these codes to Commissioners and issuance of Trade Notices; distinct sub heads are prescribed for Tax Collection, Other Receipt and Deduct Refunds, and specified cess heads are identified.
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Provisions expressly mentioned in the judgment/order text.
Service Tax expansion: six specified services added to the tax net with dedicated accounting heads and codes.
Six services were added to the Service Tax net effective 16-5-2008 and new accounting heads were opened under Major Head 0044 with assigned eight digit reduced accounting codes plus SCCD and serial codes. The services include IT software for business, ULIP investment management, recognized stock exchange services, recognized/registered association services for goods/forward contracts, processing and clearing house services, and supply of tangible goods for use without transfer of possession. Administrative instructions call for communication of these codes to Commissioners and issuance of Trade Notices; distinct sub heads are prescribed for Tax Collection, Other Receipt and Deduct Refunds, and specified cess heads are identified.
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