MODIFICATIONS IN ST 1 & ST 2 & NEW ACCOUNTING CODES FOR EXISTING & NEW REGISTRANTS

New Registrants

In terms of Notification No 48/2012 dated 30.11.12 , Service Tax Registration Application Form (ST-1) has been modified and is available on aces.gov.in.

Earlier, vide Notification No 19/2012 dated 5.6.12 effective from 01.07.2012,the negative list of services was introduced and accordingly, applicants seeking registration as a Service Tax assessee were required to register under the service category ‘All Taxable Services Other than in the Negative List’ .

In terms of the Circular No165/16/2012 ST dated 20-11-2012 , issued by CBEC, the pre-July system of service-wise registration has been restored by CBEC for statistical purposes only.

New applicants are now required to indicate the service(s) from out of the 120 categories listed in the aforesaid Circular.

Further, Service-wise Accounting Codes have also been allotted for payment of tax, other receipt-interest and penalty.

Henceforth, the Service Tax Registration Certificate (ST 2) will display the list of services for which the assessee is registered along with the new Accounting Codes.

Existing registrants

Those assessees, who had registered with the department before 01.07.2012 under the ‘Other than in the Negative List’ (OTNL) category should amend the taxable service details now and opt for relevant description/s from the list of 120 services.

After approval by the departmental officer, a new Registration Certificate (ST2) will be issued online displaying the list of services chosen by the assessee along with the new Accounting Codes.

The existing registration number will, however, remain unchanged.

Pending Amendment Applications: 

Applications which have been filed and are pending for changing the description of services to OTNL category will be rejected by the departmental officers in view of the above mentioned circular.

However, if the assessee has added or dropped any service, he should file amendment application to add/delete the relevant service.

Regards

CA. Mona Singhal

Partner

Arpit Gupta & Associates

Chartered Accountants

701, Nirmal Tower,

26, Barakhamba Road,

Connaught Place, delhi-110001

Mobile: +91-9873082769