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Issue ID: 5019
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Accounting Codes for e-payment

Date 07 Dec 2012
Replies6 Replies
Views 13270 Views
Asked by
Accounting codes for service tax payment revised under the Negative List approach; unified and transport-specific codes must be used as updated.
Accounting codes for e-payment of service tax were reorganised under the Negative List approach: a consolidated minor head was created for all taxable services with designated accounting codes for tax collection, receipts, penalties and refunds, while existing transport-specific codes remained valid. Administrative circulars and a notification set the effective date for new codes and later updated the unified code, requiring practitioners to use transport-specific codes where applicable and to migrate deposits to the revised codes per the circulars. (AI Summary)

Dear Sir/s

Currently I am using code no 0262 for service tax payment in respect of TRANSPORT OF GOODS BY ROAD

one of my freinds said that  now code no.1089 shall beused for all kind of services other than negative sevices to pay the ST .

Kindly advise me what is cuurect

Thanks in Advance.

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