Electronic Payment of Service Tax/ Central Excise mandatory for those who paid tax of more than One lakh in preceding financial year

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....lectronic Payment of Service Tax/ Central Excise mandatory for those who paid tax of more than One lakh in preceding financial year<br>By: - Bimal jain<br>Service Tax<br>Dated:- 28-11-2013<br><br>Dear Professional Colleague, Electronic Payment of Service Tax/ Central Excise mandatory for those who paid tax of more than One lakh in preceding financial year The Central Government vide Notification....

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.... No. 16/2013-ST dated November 22, 2013 ("the Notification") has amended the proviso to Rule 6(2) of the Service Tax Rules, 1994 ("the Service Tax Rules") and similarly, amendment has been made in the third proviso to Rule 8(1) of Central Excise Rules, 2002 ("the Central Excise Rules") vide Notification No. 15/2013-CX (N.T.) dated November 22, 2013 ("the Notification 15/2013"). Presently, where a....

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....n assessee has paid Service tax or Central Excise in Cash or through Cenvat credit of Rs. 10 lakh or more in the preceding financial year, he is required to make payment of Service tax or Central Excise electronically through internet banking. Now, this limit is reduced to Rs. 1 Lakh only under the Service Tax Rules and the Central Excise Rules. Note: It is pertinent to note that the above amend....

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....ment will be applicable from January 1, 2014. Hope the information will assist you in your Professional endeavors. In case of any query/ information, please do not hesitate to write back to us. Thanks & Best Regards. Bimal Jain FCA, FCS, LLB, B.Com (Hons) Mobile: +91 9810604563 E-mail: bimaljain at the rate of hotmail.com Released a Book - "Guide to Service Tax Voluntary Compliance Encour....

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....agement Scheme, 2013", authored by Bimal Jain, FCA, FCS, LLB Disclaimer: The contents of this document are solely for informational purpose. It does not constitute professional advice or recommendation of firm. Neither the authors nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this document nor for any actions taken in reli....

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....ance thereon. Readers are advised to consult the professional for understanding applicability of this newsletter in the respective scenarios. While due care has been taken in preparing this document, the existence of mistakes and omissions herein is not ruled out. No part of this document should be distributed or copied (except for personal, non-commercial use) without our written permission.<br....

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