Restoration of specific accounting codes for payment of service tax

With the introduction of negative list of services, one hundred and twenty descriptions of service and respective accounting codes for registration and payment of service tax have been repealed but for the purpose of statistical analysis the same has been restored now.

Where the registrations have been availed under the new description of “All Taxable Services”, the taxpayer should file an amendment application online in ACES and opt for relevant description(s) from the list of 120 description of service.

To view the full text of the circular, please follow the link

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