Accounting Code

[ASHOK CHOUDHARY]

Dear all,

1. I want to know about the Accounting Code  for the payment of the Service tax on the  payment of the Director’s sitting fees  by Company  under reverse charge.

 

[Brijesh Verma]

You have to pay tax under the "Other than Negative List" code i.e. 00441089

AI Summary

Reverse charge on directors' sitting fees requires payment recorded under the Other than Negative List accounting code.
Payment of service tax on directors' sitting fees falls on the company under the reverse charge mechanism and must be recorded and remitted using the Other than Negative List accounting code, identified as 00441089.