E-Payment of Service Tax and Electronic Accounting - Service Tax - Trade Facility Notice No. 8/2007

Commissioner of Central Excise, Jaipur-I Trade Facility Notice No. 8/2007 dated 22-3-2007 The trade is hereby informed that Electronic Accounting System in Excise and Service Tax (EASIEST) for collection and reporting of revenue in Central Excise and Service Tax has been introduced from 7th March, 2007. Accordingly, from 1-4-2007 single copy of the new Challan has to be used by the taxpayers instead of the present TR-6 Challan . An overview of the EASIEST is given as Annexure A (not reproduced). Trade is also informed that Central Government has, vide Notification No. 8/2007-C.E. (N.T.), dated 1-3-2007 , made it mandatory for an assessee who has paid duty of ₹ 50 lakhs or more in the preceding financial year, to deposit the duty electronically through internet banking. A brief note on e-payment alongwith the list of banks authorized for internet banking is enclosed as Annexure B and C (not reproduced). Central Excise and Service Tax assessees may like to go through the contents of Annexure A , B and C to apprise themselves about the use of the single copy of new challan and e-payment facility. Details about the EASIEST scheme are also available on websites http://exciseandservicetax.nic.in and http://www.cbec.gov.in. The new challan can also be obtained from these websites. All Trade Associations, Chambers of Commerce and Members of RAC are requested to bring the contents of this facility to the knowledge of their constituent members and other concerned.