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Sensex 73,319.55 +0.25% ↑ Nifty 22,713.10 +0.15% ↑ 22k Gold ₹ 13,835/gm Silver ₹ 2,50,000/kg Petrol ₹ 103.50 Diesel ₹ 90.03 LPG ₹ 912.50 Crude Oil $ 109.24 USD ₹ 92.71
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E-payment must for excise, service tax of Rs 1 lakh
By Super
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NEW DELHI: Assessees paying excise duty and service tax of Rs 1 lakh will have to mandatorily pay the levies electronically with effect from January. The earlier ceiling for mandatory e-filing was Rs 10 lakh.

"From January 1, 2014, a manufacturer or a Service Tax payer who has paid a duty or tax of more than Rs 1 lakh in the previous financial year shall be required to pay duty or tax through Internet banking," the Finance Ministry said. The step will help trade facilitation and it is expected that increased coverage of e-payment will make it convenient for the trade to pay taxes, the ministry added.

PTI

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Story first published: Thursday, November 28, 2013, 9:53 [IST]
See More On: excise duty, service tax, online payment, taxpayer, assessee, manufacturer, financial year
Other articles published on Nov 28, 2013

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