Central Excise - Electronic payment mandatory for those who paid duty of more than one lakh

By Vijay Kumar

AT present, an assessee who has paid a total duty of Rs. 10 lakhs or more (including CENVAT Credit) is required to make payment of excise duty electronically through Internet banking. Now this limit is reduced to Rs. 1 lakh.

This will come into force with effect from the 1st day of January 2014.

Notification No.15/2013 - CX ( N.T.), Dated: November 22, 2013