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AEPC Notifications Service Tax: Restoration of service specific accounting codes for payment of service Negative List Negative List based comprehensive approach to taxation of services came into effect from the first day of July, 2012. Accounting code for the purpose of payment of service tax under the Negative List approach [“All Taxable Services” – 00441089] was prescribed vide Circular 161/12/2012 dated 6th July, 2012. Subsequent to the issuance of the Circular, suggestions were received from the field formations that the service specific old accounting codes should be restored, for the purpose of statistical analysis; also it was suggested that list of descriptions of services should be provided to the taxpayers for obtaining registration. These suggestions were examined and a decision has been taken to restore the service specific accounting codes. Accordingly, a list of 120 descriptions of services for the purpose of registration and accounting codes corresponding to each description of service for payment of tax is provided in the annexure to this Circular. Descriptions of taxable services given in the annexure are solely for the purpose of statistical analysis. On the advice of the office of the C & AG, a specific sub-head has been created for payment of “penalty” under various descriptions of services. Henceforth, the sub-head “other receipts” is meant only for payment of interest payable on delayed payment of service tax. Accounting Codes under the sub-head “deduct refunds” is not to be used by the taxpayers, as it is meant for use by the field formations while allowing refund of tax. Registrations Registrations obtained under the positive list approach continue to be valid. New taxpayers can obtain registrations by selecting the relevant description/s from among the list of 120 descriptions of services given in the Annexure. Where registrations have been obtained under the description ‘All Taxable Services’, the taxpayer should file amendment application online in ACES and opt for relevant description/s from the list of 120 descriptions of services given in the Annexure. If any applications for amendment of ST-1 are pending with field formations, seeking the description ‘all taxable services’, such amendment may not be necessary and the officers in the field formations may provide necessary guidance to the taxpayers in this regard. Directorate General of Systems will be making necessary arrangements for display of the list of 120 descriptions of services and their corresponding Accounting Codes in Form ST-1 and Form ST-2 as may be necessary. Officers in the field formations are instructed to extend necessary guidance to the tax payers regarding the selection of appropriate description of taxable service and facilitate the payment of service tax/cess due under the appropriate accounting code. Trade Notice/Public Notice may be issued to the field formations and tax payers. Please acknowledge receipt of this Circular. Hindi version follows. Further details can be seen on the site of Ministry of Finance, Government of India along with the connected annexure with regard to this notification. 50 APPAREL INDIA
Notifications AEPC Online Payment System at AEPC By Shri Subhajit Chakrabarty, Director, IT & IS, AEPC AEPC Online Membership System The AEPC online membership system was launched (on Go Live) with effect from 01 June 2012. The system enables exporters to register for membership online, renew online and get endorsements done online. The documents required can be scanned by the exporter and uploaded online. The membership can be approved online by AEPC & certificates (new registration or renewal) can be obtained by the exporter online.The online system makes the process faster as detailed reports are available to check pendency and its causes. At each step there is transparency and the exporter would know the exact status. Now online payment is also possible through credit cards (Mastercard, Visa) and or net-banking (54 banks) options. Therefore, there is no necessity to physically visit the AEPC office to submit documents (or cheque) for new membership, renewal or endorsement, though choice of offline membership services would continue to be available as usual from the local AEPC office. What Makes Online Payment System Important With the online payment mode there is no requirement of delivery of the cheque or demand draft as the transaction is done online. There can be bounces on account of insufficient funds and the acknowledgement of payment to the exporter is automatic. Further, the processing of application for the exporter is also instant because payment confirmation is automatic. At times of difficult market conditions, helping the exporter with faster services makes the online payment system important. In particular small exporters, who are travelling can benefit significantly from the online payment facility. Online Payment System Process The secured process of online payment is as per international standards. The credit card details for net banking are neither saved by the service provider nor by AEPC. The process of application for a service related to membership system is the same as for offline. On the payment page there will be option of choosing the offline mode (submitting details of cheque or bank draft which will be verified) or choosing the online mode (payment confirmation is automatic). In case of failed transactions the process automatically reverts back the transaction as per international norms. The cost or service charge of online payment transactions is borne by AEPC now in order to encourage exporters to use more online services and embrace technology. Future Developments As the online membership system with payment gateway options gathers more steam, we would seek to provide such online options for all export promotion services including participation in fair and exhibitions. We are also initiating a closer intranet with our exporters so that all export promotion services are administered seamlessly. An MIS is being developed exclusively for Disha – the Compliance programme through which exporters can review their compliance status under Disha. An SMS gateway is being integrated with the online membership system through which exporters can get SMS alerts about payments and notices. APPAREL INDIA 51
Page 1 and 2: Vol.1 Issue No.5, January 2013 RNI
Page 3 and 4: in Association with • Fashion Acc
Page 5 and 6: CONTENTS 06 Chairman’s Letter Mes
Page 7 and 8: APPAREL INDIA Diversification of Ov
Page 10 and 11: AEPC Initiatives AEPC Chairman send
Page 12 and 13: AEPC Initiatives Chairman AEPC meet
Page 14 and 15: AEPC Initiatives India Internationa
Page 16 and 17: AEPC Initiatives Open House Meet he
Page 18 and 19: COVER Story DISHAThe journey so far
Page 20 and 21: COVER Story Global Social Complianc
Page 22 and 23: TRADE Policies Pre-Budget Proposal
Page 24 and 25: TRADE Policies or any other amount
Page 26 and 27: TRADE Policies domestic environment
Page 28 and 29: TRADE Policies awareness has been r
Page 30 and 31: AEPC's Kaleidoscope 30 APPAREL INDI
Page 32 and 33: Focus Country Market Focus Report o
Page 34 and 35: Focus Country Switzerland’s Appar
Page 36 and 37: Focus Country Table 7: Top 5 Recomm
Page 38 and 39: ATDC Updates Thus, we had to create
Page 40 and 41: Salons & Fairs Review India-Asean T
Page 42 and 43: Salons & Fairs Review ITME 2012 The
Page 44 and 45: AEPC Delegation Nicaragua’s Deleg
Page 46 and 47: INDUSTRY Interview «AEPC can play
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Page 52 and 53: AEPC Notifications AEPC Bangalore h
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