Thursday, July 1, 2010

SERVICE TAX ACCOUNTING CODES NEW SERVICES WEF 01.07.2010


on Thursday, July 1, 2010

Accounting Codes for the taxable services introduced vide the Finance (No. 14) Act, 2010
Circular No. 124/6/2010-TRU, dated 29-6-2010
  1. Heads of Account under the Major Head “0044-Service Tax” in respect of the new taxable services have been allotted by the Office of the Principal Chief Controller of Accounts, CBEC. 
  2. Accounting Codes for the purpose of payment of service tax are as follows: 
Note: A. The sub-head “other receipts” is meant for interest, penalty leviable on delayed payment of service tax
B. The sub-head “deduct refunds” is not to be used by the assessees, as it is meant for the Revenue/Commissionerates while allowing refund of tax

C. Primary education cess on all taxable services will be booked under 00440298 and Secondary Higher Education Cess will be booked under 00440426

D. If NSDL have issued any dummy codes for revenue collection and interest/penalty for the above eight services, all these dummy codes should be treated as void and may be replaced by the correct account codes as stated above

5. Description of taxable services provided at column (2) of the given table for ease of reference, does not limit the scope of the taxable service.
6. Trade Notice/Public Notice may be issued to the field formations and taxpayers.
Sl.No.
Taxable Services
Accounting Code
Tax Collection
Other Receipts
Deduct Refunds
(1)
(2)
(3)
(4)
(5)
1.
Service of promoting, marketing or organizing of games of chance, including lottery, Bingo or Lotto [Finance Act 1994, Section 65(105)(zzzzn)]
00440595
00440596
00440597
2.
Health service: (a) health check-up undertaken by hospitals or medical establishments for employees of business entities and (b) health services provided under health insurance schemes offered by insurance companies[Finance Act 1994, Section 65 (105) (zzzzo)]
00440598
00440599
00440600
3.
Service of maintenance of medical records of employees of business entity[Finance Act 1994, Section 65(105)(zzzzp)]
00440601
00440602
00440603
4.
Service of promoting a brand of goods, services, events, business entities, etc[Finance Act 1994, Section 65(105)(zzzzq)]
00440604
00440605
00440606
5.
Service of permitting commercial use or exploitation of any event organized by a person or organization[Finance Act 1994, Section 65 (105) (zzzzr)]
00440607
00440608
00440609
6.
Service provided by electricity exchange [Finance Act 1994, Section 65(105)(zzzzs)]
00440610
00440611
00440612
7.
Service related to (a) transferring temporarily or (b) permitting the right to use or enjoyment of any copyright defined in the Copyright Act, 1957 and services related two types of copyright not covered under Intellectual Property Right(IPR) Service, namely those on (a) cinematographic films and (b) sound recording [Finance Act 1994, Section 65(105)(zzzzt)]
00440613
00440614
00440615
8.
Special service provided by a builder etc, to the prospective tax buyers such as providing preferential location or external or internal development of complexes on extra charges[Finance Act 1994, Section 65(105)(zzzzu)]
00440616
00440617
00440618



OLD accounting CODES ARE REPRODUCED HEREUNDER

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