TaxTMI 
TaxTMI 
Sir,
Pls let me clear that new service tax accounting code 00441089 under the negative list approach is related to all services(i.e.old + new) or it is related to only new services & the old specific service code will exist.
Regards,
Mridul Sethi
New Accounting Code
09 Jul 2012 
1 Reply 
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Service tax accounting code change: unified code applies after transition and past-period service-specific codes remain, cess and sub-heads clarified.
Service-specific accounting codes continue to be used for accounting of service tax for periods prior to the transition, while from the transition date the new unified accounting code applies for taxable services. Specific sub-head allocations are prescribed: Primary Education Cess and Secondary and Higher Education Cess to be booked under designated sub-heads; a new sub-head for penalty; "other receipts" for interest on delayed payment; and "deduct refunds" reserved for Revenue/Commissionerates. (AI Summary)
Service-specific accounting codes continue to be used for accounting of service tax for periods prior to the transition, while from the transition date the new unified accounting code applies for taxable services. Specific sub-head allocations are prescribed: Primary Education Cess and Secondary and Higher Education Cess to be booked under designated sub-heads; a new sub-head for penalty; "other receipts" for interest on delayed payment; and "deduct refunds" reserved for Revenue/Commissionerates. (AI Summary)