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TMI BlogReduction in Threshold Limit for Mandatory E-Payment of Central Excise Duty and Service Tax.X X X X Extracts X X X X X X X X Extracts X X X X ..... Reduction in Threshold Limit for Mandatory E-Payment of Central Excise Duty and Service Tax. - News and Press Release Dated:- 27-11-2013 - News - It has now been decided to reduce the threshold limit of mandatory e- payment from rupees ten lakhs to rupees one lakh for both Central Excise and Service Tax payment with effect from 1st of January, 2014. Notification no. 15/2013-C.E. ( N.T.) dtd 22. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11.13 and 16/2013- Service Tax dtd 22.11.13 have been issued by the government to notify these changes. Thus, from 1st of January, 2014, a manufacturer or a Service Tax payer who has paid a duty or tax of more than rupees one lakh in the previous financial year shall be required to pay duty or tax through internet banking. This step has been taken as measure of trade facilitation and it is ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pected that increased coverage of e-payment would make it convenient for the trade to pay taxes electronically. Currently, a manufacturer is required to pay duty of Central Excise through internet banking (i.e. e- payment) if the total duty paid by the manufacturer exceeds rupees ten lakhs in the previous financial year as per rule 8 of the Central Excise Rules, 2002 . A Service provider is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also required to pay Service Tax through internet banking (i.e. e-payment) if the total tax paid by the Service provider exceeds rupees ten lakhs in the previous financial year as per rule 6 of the Service Tax Rules, 1994 . - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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