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August 2012

Clarification regarding cess — Circular No. 161/12/2012-ST, dated 6-7-2012.

By Tarun Ghia, Brijesh Cholera, Pratik Mehta, Chartered Accountants
Reading Time 1 mins
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The CBEC has circulated the new single accounting code for all taxable services, which is 00441089 for service tax, 00441090 for other receipts, and 00441093 for penalties. The code for ‘deduct refunds’ is 00441094. These codes are effective from 1st July 2012. The old codes will continue to be operative for payment pertaining to the period prior to 1st July 2012.

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