Change in accounting code
This query is : Resolved
02 November 2012
Hello Experts,
I am very much confused about applicability of new accounting code of Service Tax '00441089' I read Circular No.161/12/2012 -ST , it tells about Accounting codes for the purpose of payment of service tax under the Negative List approach, so my querry is this code is applicable for all the services or only for Negative list services. My earlier code was '00440245' Maintenance or Repair for Equipment.
I am very much confused about applicability of new accounting code of Service Tax '00441089' I read Circular No.161/12/2012 -ST , it tells about Accounting codes for the purpose of payment of service tax under the Negative List approach, so my querry is this code is applicable for all the services or only for Negative list services. My earlier code was '00440245' Maintenance or Repair for Equipment.
02 November 2012
Please see the note to the referred circular which is reproduced below.
NOTE: (i) service specific accounting 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)
It means (as a corollary) new code is applicable to entry specific as well as other services which are not in negative list.
NOTE: (i) service specific accounting 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)
It means (as a corollary) new code is applicable to entry specific as well as other services which are not in negative list.
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