26 August 2012
Yes. Only one accounting code for all taxable service. But, use individual challan for reverse charge services. For e.g, advocate fees, separate, wct separate and director fees etc., Because, the same challan is treated as cenvat document for claiming the input tax benefit. so, if any of reverse charge is not eligible for e.g wct you can avail cenvat on the other two challans to set off in the output tax.
27 August 2012
Accounting codes for the purpose of payment of service tax under the Negative List approach, with effect from 1st July, 2012 is as follows:
(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);
(ii) Primary Education Cess on all 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 “penalty”; 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 is meant for use by the Revenue/Commissionerates while allowing refund of tax.
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