Panchayat:Repo18/vol2-page0731

GOVERNMENT ORDERS 731

3. The pilot implementation of Saankhya has commenced in the seven Grama Panchayat of Nemom Block and in the Nemom Block Panchayat of Thiruvananthapuram District with effect from 1st April 2011. Government have decided to implement Saankhya, stage by stage throughout the state in the three tier Panchayats and to complete the implementation during the year 2011-12. Until Saankhya becomes online, each Panchayat shall Continue to maintain its accounts manually, using the existing formats and registers in the cash based single entry system.

4. In view of the fact that the Accounts Manual has not been issued, it has become necessary to lay down the Accounting Policies an the Codification Structure of the Panchayat Raj Accounts. Rule 84 of the Accounts Rules empowers the Government to issue manuals, orders, circulars and guidelines for the maintenance of accounts.

5. Government, after careful consideration of the matter and in exercise of the powers under Rule 84 of the Kerala Panchayat Raj (Accounts) Rules, 2011 hereby issue orders prescribing the Significant Accounting Policies and the detailed Codification Structure for the Panchayat Raj Institutions, for compliance of all the three tier Panchayats of the State, as per Annexure to this Government Order. The contents of the Annexure are (1) Significant Accounting Policies (2) Fund Codes (3) Function Codes (4) Functionary Codes (5) Account Head Codes.

SIGNIFICANT ACCOUNTING POLICES

1. The Financial Statements of the Panchayats shall contain, as notes to accounts, a Statement of Significant Accounting Policies adopted in preparing and presenting such information. The Significant ACCounting Policies as mentioned in this chaptershall be followed consistently each year.

2. The Accounting Policies shall be uniformly followed by all Panchayats and across all Funds'.

3. The following Accounting Policies shall govern the recording, accounting and treatment of transactions relating to various activities as given below. While the Accounting Policies, in principle, apply to all Panchayats of Kerala, their applicability will depend on the specific nature and materiality of activities performed by individual Panchayats.

Taxes

Property Tax

a. Revenue in respect of Property Tax shall be recognized in the period in which it becomes due and demand is ascertainable.

b. In case of new or changes in assessments, it shall be accrued in the half year in which the demand is served.

c. Collections to be made on behalf of Library Council i.e., Library Cess, which is included in the Property tax demand shall be reckoned together with Property tax demand and credited to a control account called “State Government Levies in Taxes- Control Account.”

d. The liability towards dues to the Government for collections on its behalf shall be recognised as and when they are collected.

Profession Tax

e. Revenues in respect of Profession Tax on Institutions/Professionals/Traders shall be accrued in the year to which it pertains when demands are ascertainable.

f. Revenues in respect of Profession Tax from employees shall be recognised on actual receipt.

Advertisement Tax

g. Advertisement Tax, if auctioned to external agencies, shall be recognised as income on accrual basis asper the terms of agreement. If not auctioned, the Advertisement Tax shall be recognized on actual receipt.

Entertainment Tax, Show Tax and Service Tax

h. Entertainment Tax, Show Tax and Service Tax shall be recognised as income on actual receipt.

General Policies in respect of Taxes recognised on accrual basis

i. Interest element and penalties, if any, in demand shall be reckoned only on receipt.

j. Revenue in respect of Notice Fee, Warrant Fee and Other Fees charged shall be recognised on actual receipt.

ഈ താൾ 2018 -ലെ പഞ്ചായത്ത് റെപ്പോ നിർമ്മാണം യജ്ഞത്തിന്റെ ഭാഗമായി സൃഷ്ടിച്ചതാണ്.