Threshold Limit Reduced For Service Tax Assessees to Pay Duty and File Return Electronically
FROM April 1, 2010, the Service Tax authorities also will expand their electronic net. Those service tax assessees who have paid more than Rs. Ten lakhs as Service Tax in the preceding financial year (which also includes payments made from CENVAT Credit account), will have to mandatorily pay the tax electronically by internet banking and file their returns electronically. Rules 6 and Rule 7 of the Service Tax Rules, 1994 were amended to this effect to extend this facility.
NOTIFICATION NO. , Dated: February 19, 2010