Accounting Codes for new services
Principal Chief Controller of Accounts, Central Board of Excise and Customs, has notified the Accounting Codes for the new Services.
HEADS OF ACCOUNTS FOR VARIOUS SERVICES UNDER SERVICE TAX
SlNo. | Name of Service | ACCOUNTING CODE | ||
|---|---|---|---|---|
Tax Collection | Other Receipts | Deduct Refunds** | ||
1. | Services provided by a Telegraph authority in relation to telecommunication services | 00440398 | 00440399 | 00440400 |
2 | Services provided in relation to mining of mineral, oil or gas | 00440402 | 00440403 | 00440404 |
3. | Services provided in relation to renting of immovable property for use in course or furtherance of business or commerce | 00440406 | 00440407 | 00440408 |
4. | Services provided in relation to execution of a works contract. | 00440410 | 00440411 | 00440412 |
5 | Services provided in relation to development and supply of content for use in telecom services, advertising agency services and on-line information and database assess or retrieval services. | 00440414 | 00440415 | 00440416 |
6. | Services provided by any person, except a banking company or a financial institution including a non-banking financial company or any other body corporate or commercial concern, in relation to asset management including portfolio management and all forms of fund management. | 00440418 | 00440419 | 00440420 |
7. | Service provided in relation to design services | 00440422 | 00440423 | 00440424 |
Note A : “The sub-head “Other Receipts” is meant for interest, penalty, leviable on delayed payment of Service Tax.
**The Sub-head “Deduct Refunds” is not to be used by the Assessees.
Education Cess on all taxable services : 00440298
The Controller of Accounts seems to be ignorant about the Secondary and Higher Education Cess, for he has not allotted any code for that. Further, he states in his letter that enclose a list of new Heads of Accounts opened under the Major Head “ 0044 – Service Tax” in respect of 07 new services and Education Cess brought under the Service Tax with effect from 01-06-2007.
May be he is not aware that SHE was effective from 11.5.2007 and not 1.6.2007!