Accounting Code for 6 new taxable services - Service Tax - 5/2008

Commissioner of Central Excise Service Tax, Salem Service Tax Trade Notice No. 5/2008 dated 19-6-2008 Copy of Office Memorandum Coord/13-6/H/A/cs/Vol.VII/42, dated 9-6-2008 of Principal Chief Controller of Accounts, C.B.E.C., New Delhi regarding allotment of Heads of Accounts in respect of Six New Services brought under Service Tax Levy with effect from 16-5-2008 is communicated for information, guidance for payment and necessary action. The contents of the Principal Chief Controller of Accounts, C.B.E.C s Office Memorandum may be given wide publicity among the members of Trade Association. Finance Ministry s Notifications on Service Tax matters may also be down loaded from Central Board of Excise Customs official web site www.cbec.gov.in. (Issued from file C.No.IV/16/151/2008-STC) Coord/13-6/H/A/cs/Vol.VII/42 Office of the Pr. Chief Controller of Accounts Central Board of Excise Customs A.G.C.R. Building, 1st Floor, I.P. Estate, New Delhi. Dated 9-6-2008 OFFICE MEMORANDUM Subject : Head of Accounts for 6 new Services brought under Service Tax net w.e.f. 16-5-2008 I am to state that 6 new services have been brought into the Service Tax net in the Finance Bill, 2008 . The new services have been notified to be effective from 16-5-2008 vide Notification No. 18/2008-Service Tax, dated 10-5-2008. List of Head of Accounts opened under the Major Head 0044-Service Tax in respect of the new services is enclosed herewith. The computer Codes i.e. SCCD Codes and Srl. Codes have also been allotted by CGA s Office and the same have been mentioned against the relevant head of Account in the list. Eight digit reduced accounting codes as mentioned at column No. 3 in the list may please be intimated to the Commissioner, Customs, Central Excise Service Tax under your accounting jurisdiction with the advice to issue a Trade Notice for information of the assessee. Yours faithfully (A.K. Singh) Dy. Controller of Accounts New Head of Accounts to be opened below Major Head 044 - Service Tax Head of Accounts Description Serial Code SCCD Code 004400205 Minor Head - Services provided by any person in relation to information technology software for use in the course, or furtherance, of business or commerce. 00440449 111 00440020501 Sub-head - Tax Collection 00440452 111 00440020502 Sub-head - Other Receipt 00440450 113 00440020503 Sub-head - Deduct Refunds 00440451 118 004400206 Minor Head - Services provided by an insurer on life insurance business, in relation to management of investment, under unit linked insurance business, commonly known as Unit Linked Insurance Plan (ULIP) scheme. 00440429 113 00440020601 Sub-head - Tax Collection 00440430 111 00440020602 Sub-head - Other Receipt 00440431 110 00440020603 Sub-head - Deduct Refunds 00440432 119 004400207 Minor Head - Services provided by a recognized stock exchange in relation to assisting, regulating or controlling the business of buying, selling or dealing in securities and includes services provided in relation to trading, processing, clearing and settlement of transactions in securities. 00440433 112 00440020701 Sub-head - Tax Collection 00440434 117 00440020702 Sub-head - Other Receipt 00440435 114 00440020703 Sub-head - Deduct Refunds 00440436 115 004400208 Minor Head - Services provided by a recognized/registered association in relation to assisting, regulating or controlling the business of the sale or purchase of any goods or onward contracts and includes services provided in relation to trading, processing, clearing and settlement of transactions in goods or forward contracts. 00440437 116 00440020801 Sub-head - Tax Collection 00440438 113 00440020802 Sub-head - Other Receipt 00440439 118 00440020803 Sub-head - Deduct Refunds 00440440 118 004400209 Minor Head - Services provided by a processing and clearing house in relation to processing, clearing and settlement of transactions in securities, goods or forward contracts including any other matter incidental to, or connected with, such securities, goods and forwar contracts. 00440441 113 00440020901 Sub-head - Tax Collection 00440442 116 00440020902 Sub-head - Other Receipt 00440443 115 00440020903 Sub-head - Deduct Refunds 00440446 112 004400210 Minor Head - Services provided by any person in relation to supply of tangible goods including machinery, equipment and appliances for use, without transferring right of procession and effective control of such machinery, equipment and appliances. 00440444 ' 114 00440021001 Sub-head - Tax Collection 00440445 117 00440021002 Sub-head - Other Receipt 00440447 119 00440021003 Sub-head - Deduct Refunds 00440448 110 Note - A : * The Sub-head Other Receipt 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, it is meant for the department while allowing refund of Tax. B : Primary Education Cess on all taxable services will be booked under 00440298 and Secondary and Higher Education Cess will be booked under 00440426.