Electronic payment requirement for service tax: penalty may apply for failure to pay electronically as mandated. Section 77(1)(d) of the Finance Act, 1994 requires certain taxpayers to remit Service Tax by electronic payment through internet banking; failure to do so ... Summary
Electronic payment requirement for service tax: penalty may apply for failure to pay electronically as mandated.
Section 77(1)(d) of the Finance Act, 1994 requires certain taxpayers to remit Service Tax by electronic payment through internet banking; failure to do so renders the person liable to a penalty which may be imposed up to the specified monetary limit for non-compliance.
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