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of <h1>Circular Clarifies Service Tax Collection Under Head of Account 0044 Using Existing Banking Systems Since July 1, 1994.</h1> The circular addresses the applicability of existing banking arrangements for the collection and refund of service tax under Head of Account 0044. It clarifies that the procedures used by public sector banks for central excise and customs duties also apply to service tax. The Reserve Bank of India's instructions from 1994 on collection and accounting of such taxes are applicable to service tax collections. The circular emphasizes that service tax, effective from July 1, 1994, will be collected and reported using the same mechanisms as other Central Board of Excise & Customs revenues, ensuring seamless integration into existing systems.
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