Mandatory payment of service tax electronically for major assessees – Reg.

Mandatory electronic payment of service tax required for major assessees; designated banks to provide facility and field coordination follows.

Mandatory electronic payment of service tax is prescribed for major assessees effective 1 October 2006: assessees exceeding the specified major-assessee threshold in the preceding or current financial year must pay service tax electronically. Nominated banks will provide the facility; field formations must inform officers and assessees and ensure smooth implementation; Commissioners should encourage other assessees to adopt electronic payment; the Principal Chief Controller of Accounts will coordinate local implementation issues and the Board invites suggestions within a short timeframe for further action.