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Ace 8-changes-in-service tax
1. 5/20/13 Service Tax
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Chapter 2
Additional changes in ACE 8.0 relating to Service Tax
1. COMPANY SETTINGS
a. Tax Settings-Service
Tax
General
Setting
Old Service tax
Regn no.
Old regn no, which is not PAN
based, clerks require it to fetch file
in the department.
Service Tax
Regn no. [STP
Code]
15 digit PAN based regn no. <10
digit PAN> + ST001
Service Tax
Location Code
6 digit range code, 2+2+2,
commissionerate+division+range, 2
digits each
Comissionerate Name of comissionerate
Common inputs
services
Service tax credit of Input Services
is allowed just like cenvat credit in
central excise. Like common
inputs, there might be input
services, which are used to render
both taxable services as well as
non-taxable services. E.g, in a
CA's office, telephone expenses
are common input services,
because a telephone is used to
render Auditing services (taxable)
as well as tax consultancy
services (exempted).
A/c of Service
Tax
Service Tax
Credit a/c
Account of service tax credit
obtained, like RG23A Part II
Service Tax PLA
a/c
Service tax PLA a/c (not required
legally, may be ignored, introduced
for future requirement)
Service Tax
Payable a/c
Service tax payable a/c, like
Cenvat Payable a/c
A/c of
E.CESS[ST]
E.CESS Tax
Credit a/c
Account of E.Cess (on service
tax) credit obtained, like RG23A
Part II
E.CESS Tax
PLA a/c
E.Cess a/c (not required legally,
may be ignored, introduced for
future requirement)
E.CESS Tax
Payable a/c
E.Cess payable a/c
Other A/cs
[ST]
Interest [ST]
PLA a/c
Interest PLA a/c (not required
legally, may be ignored)
Misc [ST] PLA
a/c
Misc PLA a/c (not required legally,
may be ignored)
b. Tax
Settings-
Excise
Just to maintain further
comptabality of ACE with X-ise &
Service Tax together - ACE9
2. MASTER
a. Subledger - Service Products
Service
Product
Concept of two more types of
products has been introduced in
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Product
Name
products has been introduced in
Ace 8, apart from 'stock product'
currently available. These are:
Non-Stock product and Service
product, for which no stock
register will be maintained. Many
of the information of a regular
products such as UOM, re-order
levels, etc. have been removed.
Alias Name
Group
b. Subledger - Service
Category
Category
Code
Like, CETSH in excise, Service
Tax Category is used for
classifying various types of
services. Service tax structure
varies for different service tax
categories.
Service
Tag Box
c. Tax Comptn. Setup -
Inward - Transaction Level
Purchase
Documents
Product level terms (PLT), like in
X-ise, have been introduced in
Ace 8 also. All PLT flavours of X-
ise are available, in addition few
more have been provided.
Party Group
Product Serv
Category-
wise
Party Group-
wise Serv
Category-
wise
Product
Group Serv
Category-
wise
Serv
Category-
wise
Cash/Bank
Payment
PLT has also been introduced in
CB & other non-stock modules
since the incidence of service tax
is on cash basis.
Debit Journal
Credit Note
Creditors
Debit Note
Creditors
d. Tax Comptn. Setup -
Outward - Transaction Level
Sale
Documents
Party Group
Product Serv
Category-
wise
Party Group-
wise Serv
Category-
wise
Product
Group Serv
Category-
wise
Serv
Category-
wise
Cash/Bank
Receipt
Credit
3. 5/20/13 Service Tax
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Journal
Credit Note
Debtors
Debit Note
Debtors
3. ENTRY
a. Cash/Bank Vouchers –
flavours
Normal Different flavours of cash / bank &
other entry modules have been
introduced so as to correctly
capture different statutory
transaction and interpret its legal
implication on different registers
and returns.
Service Bill -
Payment
Service Bill -
Receipt
PLA
Payments
[ST]
PLA
Payments
[ED]
b. New fields (in CB) Service Tax
Provider
Service Tax
Bill
Service Tax
Bill Date
c. Journal Vouchers - flavours Normal
Service Tax
CENVAT
Utilise [ED]
CENVAT
Utilise [ST]
d. Purchase - Bill - flavours -
billing
Normal Normal commercial invoices.
Excise
Manufacturer
Ignore, meant for forthcoming ACE
9.0
Excise
Registered
Dealer
Service Tax
Provider
e. Purchase - Bill - flavours -
product
Stock Only normal stock-items to be
considered for billing.
Service Only service products to be
considered for billing, e.g. Job
Working charges.
f.Sale - Bill - flavours - billing Normal Normal commercial invoices.
Excise
ManufacturerIgnore, meant for forthcoming ACE
9.0
Excise
Redistered
Dealer
Service
Provider
Meant for invoicing of output
services.
Input Meant for invoicing of an Input
4. 5/20/13 Service Tax
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Service
Distributor
Service Distributor.
g. Sale-Bill-flavours - product Stock Only normal stock-items to be
considered for billing.
Service Only service products to be
considered for billing, e.g. Audit
Fees.