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Service tax code for director remuneration rcm payment ?

M.Shanmugasundaram (Accounts) (234 Points)

17 November 2015  

Sir,

What is the Service Tax Code for Director Remuneration Service Tax -Reverse Charge Mechanisam Payment..?

Regards,

M.Shanmugasundaram


 3 Replies

Mir Irshad Ali (Partner) (192 Points)
Replied 18 November 2015

Descripttions of Taxable Services and Accounting Codes for payment of Service Tax

No.: 120

Descripttions of Taxable Services:  Other taxable services {Directors Remuneration]

Accounting Codes

Tax Collection:00441480

Other Receipts (interest):  00441481

Penalties: 00441485

Deduct Refunds: 00441482

The services of Director to a company are classifiable under "Other taxable services" and accounting codes for payment of liability are as above [Refer: CBEC Circular No. 165/16/2012-S.T., dated 20-11-2012]

 

Mir Irshad Ali (Partner) (192 Points)
Replied 18 November 2015

Descripttions of Taxable Services and Accounting Codes for payment of Service Tax

No.: 120

Descripttions of Taxable Services:  Other taxable services {Directors Remuneration]

Accounting Codes

Tax Collection:00441480

Other Receipts (interest):  00441481

Penalties: 00441485

Deduct Refunds: 00441482

The services of Director to a company are classifiable under "Other taxable services" and accounting codes for payment of liability are as above [Refer: CBEC Circular No. 165/16/2012-S.T., dated 20-11-2012]

 

Uday Kumar (Experiencing the IDT) (34 Points)
Replied 02 December 2015

The most appropriate may be 

Management or Business consultant service

Accounting code for tax collection - 00440116

other receipts (interest) - 00440117

Penalties - 00441325

 


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