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of <h1>E-Payment of Service Tax Required for Large Taxpayers; 20 Banks Authorized for Central Excise and Service Tax.</h1> The circular mandates e-payment of service tax by large taxpayers and outlines an interim accounting arrangement. Twenty banks are authorized to accept e-payments for all Central Excise and Service Tax Commissionerates without the need for Commissionerate-wise authorization. Physical tax collection will continue with existing restrictions. Banks will collate physical and e-payments for Commissionerate-wise and Major Head-wise scrolling. A designated branch in Delhi will handle e-payments for non-physical collection Commissionerates. The procedure includes detailed accounting, reconciliation, and fund settlement with the Reserve Bank of India, ensuring no deviation from existing processes until the electronic accounting system is fully operational.
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