Accounting code for payment of Service Tax - Reg

[vinay wakde]

We refer Circular  No. 161/12/2012-ST dt. 06/07/2012 - Accounting code for payment of Service Tax under the negative list approach w.e.f.  01/07/2012

In the matter, kindly clarify us whether the Tax to be paid on all taxable services after 01.07.2012, shall be used only one Accounting code number i.e. 00441089  instead of service specified accounting codes used prior to July, 2012 for payment of various catagory of the services provided by us. 

Regards,

VINAY

 

[YAGAY andSUN]

Yes Sir, from 01-07-2012 a common accounting code will be used for all taxable services.  Prior to 01-07-2012, Service specific codes will be used.

[NEERAJ KUMAR, RANCHI]

Yes a common accounting code from 01.07.2012.

AI Summary

Accounting code consolidation: a single payment code now applies to all taxable services, replacing service-specific codes. With effect from 01/07/2012 a common accounting code (00441089) must be used for payment of service tax on all taxable services under the negative list approach, replacing the prior requirement to use service-specific accounting codes for different categories of services.