TaxTMI 
TaxTMI 
New Accounting Code
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....ew Accounting Code<br> Query (Issue) Started By: - Mridul Sethi Dated:- 9-7-2012 Last Reply Date:- 9-7-2012 Service Tax<br>Got 1 Reply<br>Service Tax<br>Sir, Pls let me clear that new service tax acc....
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....ounting 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 Set....
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....hi Reply By Pradeep Khatri: The Reply: Please go through the note to Circular No. 161-ST/ 06-7-2012,F.No.341/21/2012-TRU in this regard which states as follows:- NOTE: (i) service specific accounti....
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....ng codes will also continue to operate, side by side, for accounting of service tax pertaining to the past period (meaning, for the period prior to 1st July, 2012); (ii) Primary Education Cess on all ....
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....taxable services will be booked under 00440298 and Secondary and Higher Education Cess on all taxable services will be booked under 00440426; (iii) a new sub-head has been created for payment of "pena....
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....lty"; the sub-head "other receipts" is meant only for payment of interest etc. leviable on delayed payment of service tax; (iv) the sub-head "deduct refunds" is not to be used by the assessees, as it ....
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....is meant for use by the Revenue/Commissionerates while allowing refund of tax. It means that for past period service specific codes will be used and from 01-07-2012 on wards, New Accounting code wil....
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....l be used as mentioned in the said circular.<br> Discussion Forum - Knowledge Sharing ....