New Accounting Code for the purpose of Accounting of collection of Service Tax

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....ler of accounts, cbec Under the present accounting system, separate Minor Head is opened for each taxable services under major head "0044 - Service Tax" with 3 sub-heads for accounting of : (a)  Tax Collection, (b)  Other Receipts (like penalty/interest) and (c)  Refunds. But, under proposed negative list based comprehensive approach to taxation of services, it is not....

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.... Sub-head - Penalties 00441093 111   Note A.  *The Sub Head "Other Receipts" is meant for interest etc., leviable on delayed payment of service tax.     **The Sub Head "Deduct Refunds" is not to be used by the assessees, as it is meant for the Excise Deptt. while allowing refund to tax.   B.  Primary Education Cess on all taxable se....