Service Tax Update

1)      Accounting Codes for Payment of Service Tax

ServiceTax Circular No. 161/12/2012 dated 6th July, 2012, has specified the Accounting Codes for the purpose of payment of Service Tax under the Negative List approach, with effect from 1^st July, 2012.

The new Accounting Codes are as follows:

Name of Services	Accounting Codes
	Tax Collection	Other Receipts*	Penalties**	Deduct refunds***
All Taxable Services	00441089	00441090	00441093	00441094
	Primary Education Cess		S.H. Education Cess
	00440298		00440426

It may be, however, noted that service specific accounting codes will also continue to operate, side by side, for accounting of service tax pertaining to the past period i.e. for the period prior to 1^st July, 2012.

*The sub-head “other receipts” is meant only for payment of interest, etc. leviable on delayed payment of service tax.

**A new sub-head has been created for payment of “penalty”.

***The sub-head “deduct refunds” is not to be used by the assessees, as it is meant for use by the Revenue/ Commissionerates while allowing refund of tax.

2)      Filing of ST-3 only for the period from 1^st April, 2012 to 30^th June, 2012

Due to increase in complexity of preparing half yearly Service Tax Return for the period from 1^st April, 2012 to 30^th September, 2012 because of applicability of the new Negative List Service Tax regime w.e.f. 1^st July, 2012, the Service Tax Department has issued Instruction No. F. No. 137/22/2012 dated 28^th September, 2012, according to which:

Assessees have to provide data only for the period 01.04.2012 to 30.06.2012 in the first half yearly return which is due on 25.10.2012. The data for the period from 01.07.2012 to 30.09.2012 should not be filed. Any data filed for the period from 01.07.2012 to 30.09.2012 will be rejected in the aforementioned return.

Data for the period 01.07.2012 to 30.09.2012 will have to be furnished in a return in a revised format. The revised format of the return and the last date for filing it will be indicated separately.

The same has also been mentioned vide Service Tax Notification No. 47/2012 dated 28thSeptember, 2012.

Statutory Compliance Calendar: October 2012

Date	Statutory Act	Applicable Form	Obligation
05/10/2012	Service Tax	Challan No.GAR-7	Payment of Service Tax for the month/quarter ended September (6th for e- payment)
07/10/2012	Income Tax	Form No. 15G, 15H, 27C	Submission of forms received in September to IT Commissioner.
07/10/2012	Income Tax	Challan No.ITNS-281	Payment of TDS/TCS deducted/collected in September.
10/10/2012	Excise	ER-1	Return for Non SSI assessees for September.
10/10/2012	Excise	ER-6	Return by units paying duty >1 crore (CENVAT +PLA) for September.
10/10/2012	Excise	ER-2	Return for EOUs for September.
15/10/2012	Income Tax	Return No. 24Q, 26Q, 27Q & 27EQ	TDS returns for September Quarter for non- govt deductors & TCS Returns for all deductors.
15/10/2012	Provident Fund	Electronic Challan Cum Return(ECR)	E-Payment of PF for September (Cheques to be cleared by 20th)
20/10/2012	Excise	ER-3	Submission of return by SSI units for September quarter
21/10/2012	ESI	ESI Challan	Payment of ESI of September.
25/10/2012	Service- Tax	Return No. ST-3	Filling of Half Yearly Service Tax return.
30/10/2012	Income- Tax	Forum 16A/27D	Issue of Quarterly TDS/ TCS certificate for September Quarter.
30/10/2012	Company	XBRL	Balance Sheet in XBRL format.
31/10/2012	Income Tax	Return No. 24Q, 26Q, 27Q & 27EQ	TDS returns for September Quarter for Govt. deductors.
05/11/2012	Service Tax	Challan No.GAR-7	Payment of Service Tax for October by Companies (6th for e- payment)