Amends Service Tax Rules, 1994 - service tax to be deposited electronically in case it exceeds Rs. 50 lakh - 027/2006 - Service Tax

Amends Service Tax Rules,1994 - service tax to be deposited electronically in case it exceeds Rs. 50 lakh

Notification No. 27/2006-Service Tax

Dated 21-9-2006

G.S.R. (E).- In exercise of the powers conferred by sub-sections (1) and (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules,1994, namely :-                                                                                                                                                

1. (1) These rules may be called the Service Tax (Fourth Amendment) Rules, 2006.

(2) They shall come into force on the 1^st day of October, 2006.

2. In the Service Tax Rules, 1994, in rule 6, in sub-rule (2), the following proviso shall be inserted, namely:

"Provided that the assessee, who has paid service tax of rupees fifty lakh or above in the preceding financial year or has already paid service tax of rupees fifty lakh in the current financial year, shall deposit the service tax liable to be paid by him electronically, through internet banking."

[F. No. 354/85/2006-TRU]