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of <h1>Electronic Accounting System Launches for Excise & Service Tax; Mandatory E-Payments for High Duty Payers from April 1, 2007.</h1> The circular informs the trade about the introduction of the Electronic Accounting System in Excise and Service Tax (EASIEST) from March 7, 2007, for revenue collection and reporting. From April 1, 2007, taxpayers must use a single copy of the new Challan instead of the TR-6 Challan. Additionally, those who paid Rs. 50 lakhs or more in duty in the previous financial year must make electronic payments via internet banking, as per Notification No. 8/2007-C.E. (N.T.). Trade associations and chambers are urged to disseminate this information to their members.
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